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Badenoch says Healey’s budget will be worse than Reeves’s if he doesn’t slash spending – UK politics live <p>Conservative leader to give a speech later, while Treasury sources say Healey has ruled out a rise in capital gains tax</p><p>Here is <strong>Jessica Elgot</strong>’s story on <strong>John Healey</strong> ruling out raising capital gains tax in the budget.</p><p>Good morning. <strong>John Healey</strong>, the chancellor, is delivering his first budget a week tomorrow, and this morning there are two news developments that will help to frame the way it is received.</p><p>Senior allies of Andy Burnham, including several cabinet ministers, have been pressing for a rise in capital gains tax on the sale of second homes, shares and other assets to help repair the public finances.</p><p>However, the chancellor has ruled this out after warnings that it could ultimately cost the government money if <a href="https://www.thetimes.com/business/companies-markets/article/high-net-worth-individuals-tax-britain-xpvc5vmmv">wealthy individuals left the UK</a> or deferred selling assets …</p><p>John Healey is not Rachel Reeves.</p><p>Many people see that as an improvement.</p> <a href="https://www.theguardian.com/politics/live/2026/oct/20/kemi-badenoch-john-healey-capital-gains-tax-budget-covid-inquiry-care-homes-uk-politics-latest-news">Continue reading...</a>
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France protests are ‘outburst of resentment’ against Macron French student union spokesperson Alice Cohen-Morzadec says the protests reflect growing anger over Macron's policies.
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Healey to reject calls to raise capital gains tax in budget <p>Cabinet colleagues have previously called for an increase but chancellor feels it might ultimately cost the Treasury</p><p>John Healey will not raise <a href="https://www.theguardian.com/money/2026/sep/25/capital-gains-tax-how-it-works-benefits-and-pitfalls-of-another-hike">capital gains tax</a> in next week’s budget, despite previous calls to do so from cabinet colleagues including Louise Haigh and Wes Streeting.</p><p>The chancellor has decided that any increase might ultimately cost the Treasury if wealthy individuals defer the sale of assets or move them out of the country, according to Treasury sources.</p> <a href="https://www.theguardian.com/uk-news/2026/oct/20/john-healey-no-capital-gains-tax-rise-budget">Continue reading...</a>
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