@NEF

New Economics Foundation | Change the rules. Share the wealth. Protect the planet.

 London, UK
neweconomics.org
Joined October 2009
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NEF@NEF19 Nov 2024
👀Just a reminder, we're on the other social media platform🦋if you want to give us a follow👇🏽
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Barclays just announced Q3 pre-tax profits of £2.3bn - 12% higher than last year. As millions struggle with the cost of living crisis, and UK banks record bumper profits, it's a no brainer for the government to ask them to pay their fair share in next week's budget.
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Cost of living policies aren't just vital for helping people struggling with rising costs. They also *directly lower CPI inflation*, easing pressure on the Bank of England to raise interest rates and thus government borrowing costs. 🧵
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Read NEF senior economist Jaya Sood's full analysis on our website tinyurl.com/bdf5k3nf

The chancellor must use the budget to tackle inflation

Cost of living pressures aren't going away, it's time for the government to intervene

neweconomics.org
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And explore our proposals for a budget that tackles the cost of living emergency through rent controls, an essentials energy guarantee, a £1 bus fare cap and more here: neweconomics.org/2026/10/the…

The chancellor must go big to keep Britain on board

The PM's plan to dismantle 40 years of neoliberalism can't fall at the first hurdle

neweconomics.org
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Did the government not just experience the same summer we did? Burning new gas from Jackdaw after thousands died prematurely due to extreme heat just months ago is incomprehensible and, as the govt admits, won’t lower bills. This is the wrong decision.🧵 tinyurl.com/3uu556xr

UK government approves drilling in Jackdaw gas field with production to start this month - follow...

The government says the move will "heat millions of homes" and protect jobs, while environmentalists argue it will hamper efforts to cut planet-warming carbon emissions.

bbc.co.uk
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Finally, what message does this decision send to the rest of the world? The international climate consensus is already fraying. If the UK will not act, with its significant wealth and vast historic emissions, other countries may ask why they should.
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If this decision is followed by approval of the Rosebank oil field and further expansion of our airports, the UK’s climate leadership will lie in tatters. The government must urgently rethink its approach.
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Disappointing news on capital gains tax today: the Chancellor has ruled out raising CGT rates at next week’s Budget. But he doesn’t appear to have ruled out reforms to the tax base, so there’s still room for progress. thetimes.com/article/b259153…
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🚨 BREAKING 🚨 Chancellor Healey rules out CGT rise. That's bad news for a former Mayor of Manchester who famously once said “we have overtaxed labour and undertaxed wealth." Our thoughts? 👇🧵1/4 theguardian.com/uk-news/2026…

Healey to reject calls to raise capital gains tax in budget

Cabinet colleagues have previously called for an increase but chancellor feels it might ultimately cost the Treasury

theguardian.com
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Opinion polls show people want support with the cost of living. Reforming capital gains tax would have been a way for the chancellor to provide it. @GeorgeBangham was on @TimesRadio talking about why the chancellor is wrong to rule out raising capital gains tax.
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This is a mistake from the chancellor. Capital gains tax reform could raise £19bn to help fund cost of living support for struggling households and improvements in public services.
Bloomberg
@businessOct 20
Chancellor John Healey won’t increase the UK’s tax on capital gains in his budget next week bloomberg.com/news/articles/…

Healey Rejects Calls to Increase Capital Gains Tax in UK Budget

Chancellor of the Exchequer John Healey won’t increase the UK’s tax on capital gains in his budget next week, as he relies instead on a levy on bank revenues to fund the Labour government’s plans.

bloomberg.com
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The latest academic evidence shows that aligning capital gains tax rates with income tax (and reforming the tax base) is good for revenue and good for GDP. It would also remove longstanding distortions that many past chancellors like Nigel Lawson knew were bad for the economy.
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If the Treasury isn't going to reform capital gains tax at this Budget, it must put the wheels in motion on preparing a capital gains tax reform package for the spring.
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Reports suggest the chancellor is planning to announce targeted support with energy bills for the poorest households in the budget. But Hannah Peaker argues this doesn't go far enough.
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Listen to our special pre-budget episode of the New Economics Podcast to find out more: linktr.ee/neweconomicspodcas…

New Economics Podcast Official: TikTok, Instagram | Linktree

View neweconomicspodcast’s Linktree to discover and stream music from top platforms like Soundcloud here. Your next favorite track is just a click away!

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