The Treasury is considering higher taxes on banks to pay for targeted, temporary help for households facing rising energy costs, according to Bloomberg, as reported by Investing.com on Saturday 24 October.
Bloomberg says Healey is preparing a cautious Budget aimed at reassuring bond investors and avoiding broad tax rises. Its survey of primary dealers indicates he is expected to keep a fiscal buffer of at least £15bn.
Some Labour MPs who expected bolder change under Andy Burnham are frustrated, Bloomberg reports. Treasury officials reject the claim that the Budget lacks ambition and say more cost-of-living measures could come.
Bloomberg also reports that Burnham's earlier proposals on Brexit arrangements and a national social care service are unlikely to be advanced significantly in the Budget. It says officials are concerned that a US-Iran escalation could disrupt energy supplies and undermine the fiscal forecasts.
The Treasury has not confirmed any of these measures. They remain reports until the Chancellor delivers the Budget to the Commons on Wednesday 28 October.