CEO of Barclays tells reporters: ‘I deeply respect the responsibility that the chancellor has and he has our full support and backing’

The Office for National Statistics has also published a report on the gender pay gap. It says:

The gender pay gap for full-time employees has continued to decline in the UK. It was 6.8% in April 2026, down from 7.2% in April 2025. This compares with 9.4% a decade ago and 16.4% 25 years ago.

Secondly, I asked Healey whether he sees the banks as making excessive profits, which would be the coherent justification for him to increase the surcharge on bank profits – as he is expected to do in the Budget next week.

He said: “You know the banks are the engine of investment in this country. The banks are doing well at the moment and that is good to see.

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© Photograph: Phil Lewis/SOPA Images/Shutterstock

© Photograph: Phil Lewis/SOPA Images/Shutterstock

© Photograph: Phil Lewis/SOPA Images/Shutterstock

Governor Yaron urges next coalition to cut debt and pursue growth reforms to fund security needs; bank raises forecasts but warns overseas production distorts domestic picture

Government paid £10.9bn in debt interest, the highest September figure since records began

• Business live – latest updates

The Treasury ran a higher than expected budget deficit of £24.5bn last month as rising inflation pushed up the interest paid on government debt, increasing pressure on John Healey before his budget next week.

Official figures show the government paid £10.9bn in debt interest: the highest September figure since records began, and only the eighth time the monthly number has been above £10bn.

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© Photograph: Kirsty O’Connor/Treasury

© Photograph: Kirsty O’Connor/Treasury

© Photograph: Kirsty O’Connor/Treasury

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

• UK politics live – latest updates

John Healey will not raise capital gains tax in next week’s budget, despite previous calls to do so from cabinet colleagues including Louise Haigh and Wes Streeting.

The chancellor has decided that any increase might ultimately cost the Treasury if wealthy individuals defer the sale of assets or move them out of the country, according to Treasury sources.

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© Photograph: Christopher Thomond/The Guardian

© Photograph: Christopher Thomond/The Guardian

© Photograph: Christopher Thomond/The Guardian

Latest ONS data presents mixed picture amid slump in job vacancies and analysts warning labour market is ‘running on idle’

• Business live – news updates

• Healey to reject calls to raise CGT in budget

Unemployment in the UK has fallen unexpectedly in the final snapshot of the jobs market before John Healey’s first budget next week.

The jobless rate fell to 4.7% in the three months to August, from 4.9% according to the Office for National Statistics. City economists had forecast a rise to 5%.

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© Photograph: Susannah Ireland/The Guardian

© Photograph: Susannah Ireland/The Guardian

© Photograph: Susannah Ireland/The Guardian

Ahead of election, former central bank deputy governor Zvi Eckstein says outgoing government's decisions have impacted country's growth, with economy at risk unless changes are made

Exclusive: Douglas Alexander, on trade delegation to India, talks up economic benefits of joint trading arrangements with Europe

Britain will benefit from much closer trading relations with the EU even if that means giving up its ability to negotiate free trade agreements, the Scotland secretary has said.

Douglas Alexander helped negotiate deals with India and the US when he was a trade minister under Keir Starmer.

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© Photograph: X/Douglas Alexander

© Photograph: X/Douglas Alexander

© Photograph: X/Douglas Alexander