Overview

• Treasury sources say the 26 November Budget will aim for a larger fiscal buffer, with roughly £30bn to be raised primarily through tax measures rather than spending cuts or extra borrowing.
• Officials signal higher contributions from wealthier households, with reporting pointing to options across property, inheritance and investment taxes, and speculation about a potential one‑off wealth levy under discussion.
• The Institute for Fiscal Studies advises against an annual wealth tax, higher stamp duty or cutting pension tax relief, and sets out alternatives such as ending capital gains tax relief on death, reforming council tax and inheritance rules, and adjusting bank taxes.
• New HMRC analysis reported by CityAM warns that raising capital gains tax rates could reduce receipts as investors delay disposals, with modelling showing sizeable revenue losses from rate hikes.
• Conservative leader Kemi Badenoch pledges to abolish stamp duty on main homes, a move estimated to cost £4.5bn by the IFS and up to £9bn by party figures, sharpening the political fight over property taxation.