Healey's Budget on 28 October is reported to include a tax crackdown on online sellers, cheaper hiring of young people and no extra borrowing. Business lobbies for relief
Chancellor John Healey delivers his first Budget on 28 October. The Guardian, City AM and the Mirror reported that he plans a crackdown on online marketplaces, closing VAT loopholes for online sellers, with Amazon and eBay named by the Mirror. City AM put the prize at £1bn and said it would pay for tax breaks for shops. The Financial Times reported that the giveaways would be paid for without more borrowing. City AM said he is looking at cheaper hiring of NEETs, and the Guardian and Sky News reported that hospitality firms will offer up to 100,000 jobs to young people out of work. Kingfisher's chief executive, bookmakers and others lobbied against tax rises.
Pre-Budget briefing shapes expectations before anything is law. The Chancellor must balance spending promises, tax rises and the cost of borrowing, which is why the Bank of England's rate outlook matters.
Nothing changes until the Budget. If the plan survives, online shopping from overseas sellers could face VAT changes, and employers could find it cheaper to hire people under 25.
Supporters of the online-seller crackdown say it makes the playing field fair for high-street shops.
Critics say higher costs fall on shoppers and that business needs cuts in employment taxes and business rates.
Treat every figure as briefing until 28 October. The £1bn is City AM's alone. The test is whether the numbers add up without more borrowing, as the FT reported.
DailyDrop U.K. edition No. 11 · Morning · THU., OCT. 15, 2026