Autumn Budget 2026: The key points

Chancellor John Healey has today (28th October) set out the government’s fiscal plans in the 2026 Autumn Budget speech.

Key announcements made in the speech included:

·       From 6 April 2027, the rates of income tax applicable to property income will increase, with the property basic rate rising to 24%, the property higher rate to 44% and the property additional rate to 49%

·        An extra 3% surcharge on banks to pay for “immediate support on energy bills”, starting in January 2027 and running for 15 months

·        First-time buyer ISA to replace Lifetime ISA

·        ‘Your First Home’ scheme funded with £4.7bn of government-backed lending, supporting first-time buyers who “don’t have the Bank of Mum and Dad behind them”

·        Biodiversity requirements removed for more brownfield sites

·        Cheaper borrowing for councils to be extended, making all land sold to social housing providers VAT-free

·        Additional £1.5bn for Social and Affordable Housing Programme, taking government commitment in council housing to £40bn

·        New capital gains tax relief for business founders, called ‘Founders’ Relief’

·        Further £20.4bn for the National Wealth Fund and the British Business Bank

·        Scale-up initiative launched to support female founders in growing a business