6:50 am, October 28, 2026
Healey: ‘Breathing space’ Budget will move toward lowering energy costs for good
John Healey has promised to use his first Budget to give households and businesses ‘breathing space today’ from everyday costs while taking action to bring down energy bills for good in the future.
The Chancellor is expected to announce a freeze in fuel duty as well as plans for longer-term reforms as he seeks to make Britain ‘more resilient’ from global shocks.
In a video message before he delivers the autumn statement on Wednesday, Mr Healey insisted the Government would move to ease the cost of living ‘responsibly’ by sticking to Labour’s self-imposed fiscal rules.
HSBC quarterly profit surge sparks fresh calls for bank tax hike in Budget
A top HSBC executive has said the bank is not under pressure to relocate from the UK, despite a surge in its quarterly profit sparking fresh calls for the Chancellor to hike bank taxes in the Budget.
Pam Kaur, the banking group’s chief financial officer, said there was ‘no pressure’ on the bank despite facing the prospect of higher costs.
It comes after HSBC reported a pre-tax profit of 9.6 billion US dollars (£7.2bn) for the three months to September, which was 32% higher than the same period last year.
Pink Floyd’s Nick Mason sends pair of classic cars to auction
Nick Mason, drummer from rock band Pink Floyd, has sent two of his classic cars to auction.
Mason has taken two cars from his ‘Ten Tenths Collection’, and they’ll now form part of the Iconic Auctioneers event taking place at the NEC Classic Motor Show on Saturday, November 14.
The first is a 1928 Morgan Supersport 8-valve Anzani, which has formed part of Mason’s collection since 2014. However, its history stretches far beyond this ownership, with the car having been supplied new in Australia, where it competed at Penrith Speedway near Sydney by 1929 where it secured several victories.
The markets
A lower oil price and heavy falls in lender HSBC kept the FTSE 100 in the red on Tuesday, as investors look ahead to the Budget and US rate call on Wednesday.
In London, the FTSE 100 index ended down 80.79 points, 0.8%, at 10,686.54.
In European equity markets on Tuesday, the CAC 40 in Paris ended up 0.6%, while the DAX 40 in Frankfurt climbed 0.8%.
Tuesday on Car Dealer
Mystery surrounds broker Car Loans UK’s future as rumours suggest it has ‘ceased trading’
Car finance broker Car Loans UK is believed to have ceased trading, leaving dealers awaiting payouts in limbo, although the firm has yet to confirm its status.
Autotrader announces major shake-up of dealer terms and conditions
Autotrader will simplify dealer terms from November 10, allowing Economy Stock adverts for all contracted stock while updating rules on leads, pricing transparency, account security and vehicle checks.
Independent car dealers offered free EV sales training as used electric market grows
Industry bodies have launched free EV Retail Ready training for independent dealers, covering charging, running costs and sales, as rising used electric car supplies create new opportunities.
Dangerous drivers jailed after car dealership crash kills mother and young daughter
Two men have been jailed for a combined 28 years after street racing killed a mother and her four-year-old daughter outside Vertu Jaguar Leeds in January 2023.
Range Rover boss says Chinese copycat cars are ‘not appreciated’ compliment
Range Rover boss Martin Limpert says JLR dislikes Chinese rivals copying its designs but views imitation as proof the British brand remains the luxury SUV benchmark.
One-in-three drivers favour VAT cut amid spiralling fuel costs – RAC
One in three drivers would prefer to see a cut in VAT over a reduction in fuel duty as the prices of petrol and diesel continue to remain at record levels.
That’s according to the RAC, which found that more would rather see Chancellor John Healey announce a cut to the VAT on fuel at this week’s budget than a reduction in duty. Some one-in-ten would prefer fuel duty – which is set to rise by 5p next March – simply held at its reduced rate of 52.95p a litre, though 29 per cent would rather a further cut.
Petrol and diesel prices have continued to rise this year, largely as a result of the conflict between the US and Iran, as well as disruption to global diesel supplies caused by Russia’s war in Ukraine.
RAF Fairford ‘plot co-ordinated by handler working on behalf of Iran’
A group of men were ordered to drive vans loaded with petrol to RAF Fairford by a handler known as ‘Ali’ who police believe was working on behalf of Iran, a court heard.
One of the five men tasked with driving to the base called police in the early hours of September 27 after the organiser warned the group of a bomb in the vans, prosecutors told Westminster Magistrates’ Court.
Mohmed Abdulkarim, 24, and Nouman Essghir, 24, both appeared in court on Tuesday charged under the National Security Act 2023.
Weather outlook…
Scotland and Northern Ireland will be breezy with showers, particularly in the north and west, while northern England should become drier and brighter.
Wales and the Midlands can expect a largely dry day with sunny spells.
Southern England will also be mostly dry and bright, with temperatures reaching around 15°C.