Trade union Unison is scheduled to release polling today, 20 October 2026, which reportedly shows substantial public support for additional taxes on banks, as well as on "the wealthiest individuals…and large corporations."
This comes as various interest groups are lobbying ahead of next week's fiscal event. Principal business groups have called for reduced costs and easier hiring for young people.
Separately, the Institute of Economic Affairs has published an alternative Budget this week. The think-tank advocates for a significant expansion of VAT at 20 per cent across goods and services currently exempt or at reduced rates. The proposed reforms aim to shift taxation towards consumption, with the revenue potentially used to abolish Stamp Duty and Inheritance Tax. The document also suggests reforms to welfare spending and income tax, and proposes scrapping the Bank Levy and Bank Surcharge.