Chancellor John Healey said his upcoming Budget will focus on cutting business costs and supporting entrepreneurs. He spoke less than a week before the October 28 fiscal event.
£24.5 billion in public borrowing last month, higher than expected.
£3 trillion: the UK's national debt has passed this mark.
3.5% inflation in the year to September, above forecasts.
£11.3 billion in fiscal headroom, down from £23.6 billion in six months.
Why it matters: Healey faces pressure to raise taxes or cut spending as borrowing costs rise and growth weakens. Analysts say he needs at least £12 billion for basic commitments.
The government is reportedly weighing a bank surcharge rise from 3% to 8%.
Healey has reportedly ruled out raising capital gains tax rates.
Frozen income tax thresholds will pull more workers into higher bands.
Right coverage, 2 sources: The right frames Healey as trying to calm business nerves after two years that firms call damaging, with banks and households facing new taxes.
