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York-Based WorldHotels GB Boss Attacks Budget on Lack of Hospitality VAT Relief
Industry groups say the tax changes could hit investment and jobs, while the Treasury expects the measures to raise billions for public services.
- On Wednesday, October 28, 2026, Chancellor John Healey delivered his first Autumn Budget in the House of Commons, outlining tax and spending plans to balance fiscal discipline with cost-of-living support.
- Rising borrowing costs fueled by the Iran war halved the government's fiscal headroom to £12 billion, compelling Healey to seek revenue through targeted tax measures rather than broad spending cuts.
- Healey announced plans to raise the bank profit surcharge from 3 per cent to 8 per cent and mandated online marketplaces collect VAT from third-party sellers, expected to generate combined revenue for relief.
- The Chancellor introduced a £100 'Household Energy Payment' for 20 million households and increased the Small Business Rate Relief threshold to £18,000, alongside scrapping VAT on electricity bills.
- Projections indicate living standards may stagnate for the rest of the decade despite the government's 10-year plan to reduce energy costs and spur growth, signaling long-term economic headwinds.
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72 Articles
Bournemouth Echo+2 Reposted by 2 other sources
'This budget was a disaster for hospitality'
One of the UK's leading hospitality campaigners has described the budget as "a disaster for hospitality".
·Bournemouth, United Kingdom
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Richard Murphy: Forget what was in the Budget. It’s what was missing that matters
I NEVER expected John Healey to deliver much in his first (and I rather hope last) Budget as Chancellor of the Exchequer in the latest dismal Labour government in Westminster. He did not – and to that extent I cannot be disappointed with the outcome.
·Glasgow, United Kingdom
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Total News Sources72
Leaning Left14Leaning Right6Center18Last UpdatedBias Distribution47% Center
Bias Distribution
- 47% of the sources are Center
47% Center
L 37%
C 47%
R 16%
Factuality
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