Overview

• Allan Leighton publicly urged the chancellor to halt further tax measures and prioritise investment to support growth.
• Reports say options under review include extending frozen income tax thresholds, a so‑called mansion tax on high‑value home sales, applying national insurance to rental income, and higher business rates for larger premises.
• Reeves has restated pledges not to raise headline rates of income tax, VAT or employee national insurance and to keep within borrowing limits.
• The BRC‑NIQ monitor put food inflation at 4.2% in August, the highest since February 2024, with retailers warning the pickup is squeezing households.
• More than 60 retail leaders cautioned that further tax rises would push up prices and undercut living‑standards goals, as Asda’s sales fell 2.6% in the three months to 10 August and its market share slipped to 11.8%.