The Newshound

Consumer confidence slides as retailers warn Healey not to compound 'triple blow' of costs in Budget

From the Newshound archive · first published 24 September 2026.

Energy bills like those now facing millions of households, as the Gulf conflict pushes wholesale electricity costs to a four-year high, with reduced wind and solar output over August forcing heavier reliance on…
Energy bills like those now facing millions of households, as the Gulf conflict pushes wholesale electricity costs to a four-year high, with reduced wind and solar output over August forcing heavier reliance on…
1% — still the second-fastest in the G7 — risks peaking near 4% in early 2027.
1% — still the second-fastest in the G7 — risks peaking near 4% in early 2027.

Consumer confidence has fallen for the first time in four months, with close to half of Britons anticipating economic conditions will deteriorate over the coming quarter. The British Retail Consortium is calling on Chancellor John Healey to freeze the business rates multiplier and relieve pressure from rising employment and energy costs ahead of next month's Budget. Elsewhere, the Treasury is reported to be willing to accept a smaller fiscal buffer to keep tax rises in check, while Labour is also considering a £3,000 increase to the personal allowance — to be financed through higher capital gains tax.

The index measuring consumer expectations for the economy fell to minus 34 this month from minus 28, while confidence in personal finances dropped from minus 9 to minus 15.

BRC chief Helen Dickinson cautioned that Healey must not 'compound the triple blow' of employment costs, energy bills and business rates, calling for an immediate freeze on the multiplier.

A proposal from a Labour donor to lift the personal allowance to £15,570 is being actively considered by Burnham and Healey, with the cost offset by ending interest payments on Bank of England reserves.

MoreDaily MailI fear this Budget will gun for our pensions, savings and homes: JEFF PRESTRIDGE reveals exactly what YOU can do about itLBCConsumer confidence stumbles amid warnings Budget must provide reassuranceCity A.M.Healey urged to cut business costs as consumer confidence slipsFinancial TimesTreasury open to smaller fiscal headroom to reduce UK tax hikesDaily MailCould the personal allowance rise to £15,570 in the Budget?Evening StandardLabour minister blames Tories for huge council tax hikes set to hit Londoners: 'They decimated funding'GB NewsTax overhaul looms as Andy Burnham considers personal allowance reform in 'meaningful boost for millions'
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