Healey is to raise taxes on retiring entrepreneurs just a day after vowing to back 'bloody-minded entrepreneurs'
Britain's debt interest bill hit £10.9bn in September alone — the highest for that month on record — as John Healey's fiscal headroom looks set to halve to around £12bn.
Chancellor John Healey had signalled capital gains tax rates would not rise, to calm fears of an attack on entrepreneurs. He delivers the first Budget of Andy Burnham's government on Wednesday 28 October. National debt passed £3trillion in September, and borrowing hit £24.5bn last month. One high street boss said retailers were 'choking on our cornflakes' at his pro-business pitch.
Healey still defends Rachel Reeves' employer national insurance hike from 13.8 to 15 per cent.
Sainsbury's boss Simon Roberts warned Labour not to 'further aggravate' business costs.
A bank profits surcharge rise from 3 to 8 per cent is reportedly being considered.
