Overview
- A formal Budget submission from donor Dale Vince was lodged on Monday asking for capital gains tax to be aligned with income tax so the Treasury can fund a higher personal tax‑free allowance.
- Officials are stress‑testing a package of measures to plug an estimated £5–15 billion hole in public finances, including higher CGT, windfall or corporation levies and targeted spending changes.
- Downing Street insiders and multiple reports say the government is likely to drop the family farm inheritance levy at the Budget, a reversal that would cost about £300 million a year.
- Ministers are also considering an overnight visitor levy to let mayors raise revenue, a plan that has drawn fierce pushback from Reform UK and the hospitality sector over job and price impacts.
- Markets and the Office for Budget Responsibility are central constraints on the Treasury’s choices, and HM Treasury has declined to comment pending formal announcements by the Chancellor.