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.

Equating to the loss of 5% of its 93,000 global staff, job cuts come as bank announces jump in quarterly profits

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Barclays is cutting 5,000 jobs as part of wider cost-cutting plans that its bosses say are being driven by advances in AI.

The job cuts will mean losing about 5% of the bank’s 93,000 global staff, with executives confirming they had already cut 1,000 workers since the start of the year.

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

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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.

Andy Haldane writes that Conservative economic plans would be best for growth ahead of Healey budget

Badenoch says Britain needs tax cuts.

We need to get out of the way of job creators who make our country richer. We need to encourage risk taking, wealth creation, enterprise.

Britain’s tax burden has never been higher. You are taxed on the heating in your home. You’re taxed at the petrol pump filling up your car. You’re taxed when you insure that car. You’re taxed if you take the family away on holiday. You’re taxed if you stay in the UK thanks to Andy Burnham’s tourist tax. You’re taxed to buy a home, taxed to live in a home, taxed to pass on your home. This is clearly not working. Britain does not feel better off.

Andy Burnham wrote in The Times yesterday about the moral outrage of the current benefit system. But as far as I could work out, his answer is to spend even more on benefits.

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

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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.

Consultancy says companies quoted on London stock market issued 65 in three months to end of September

The number of profit warnings from UK-listed companies has risen to the highest level in two years, as the war in the Middle East triggers a surge in costs for businesses before the budget.

With less than a fortnight before John Healey’s tax and spending statement to the Commons, the consultants EY-Parthenon said companies quoted on the London stock market had issued 65 warnings in the three months to the end of September.