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CBI urges Healey to draw a 'clear red line' on tax raids as Budget alarm grows at Labour conference

From the Newshound archive · first published 27 September 2026 · last updated 28 September 2026.

CBI urges Healey to draw a 'clear red line' on tax raids as Budget alarm grows at Labour conference

Chancellor John Healey addresses Labour's Liverpool conference today as anxiety about Budget tax increases grips the party. The Confederation of British Industry has called on him to draw a firm line against any additional increases in employment or investment costs, cautioning that private sector output is on course for a fourth consecutive quarterly fall. Fiscal headroom of £7 billion is at risk of being wiped out by a combination of rising oil prices, weak growth and lower-than-expected immigration figures.

The CBI says businesses have been battered by £75 billion in tax rises under his predecessor Rachel Reeves.

Healey deepened Budget fears yesterday by observing that the UK has the "lowest capital gains tax of any European G7 nation" — a remark widely interpreted as a signal of what is to come.

MoreFinancial TimesHealey to address Labour conference for first time as chancellorCity A.M.Wealth advisers battle client fears as Budget tax speculation growsDaily MailChancellor speaks to Labour conference amid Budget tax hikes panicLBCRaising Capital Gains Tax would be a Budget own-goal - is Healey reckless enough to do it?Daily MailBusiness chiefs urge Healey to rule out fresh tax raidFinancial TimesA message for the chancellor: the time is now ripe for tax reformLBCTax banks and the wealthy to lift income tax thresholds at the Budget, union boss tells LBC
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