Lloyds calls bank tax rise ‘unhelpful’ as Q3 profit nearly doubles
Lloyds profits nearly doubled to £2.3bn in the third quarter as its finance chief called the bank tax rise unhelpful and urged that it stay temporary.
Thursday 29 October 2026
The latest news affecting small and medium sized (SME) businesses in the UK
Lloyds profits nearly doubled to £2.3bn in the third quarter as its finance chief called the bank tax rise unhelpful and urged that it stay temporary.
Analysis of the higher small business rate relief threshold finds Birmingham has most premises set to stop paying rates, outer London the largest share.
Virgin Atlantic is weighing legal action and a possible regulatory review after its joint venture partner Delta was told to move to Heathrow Terminal 4.
In his Jeremy Hunt Budget response, the former Chancellor told MPs the government had put off difficult decisions on welfare, energy and defence spending.
![Chancellor John Healey today increased both the National Minimum Wage and the National Living Wage by 3.9 per cent, a rise covering 2.3 million of the lowest paid workers. The Budget also makes self-employed fathers and partners eligible for paid parental leave for the first time, raises the higher mileage rate from 25p to 35p per mile and funds a £100m local apprenticeship service. 365 Finance, Menzies and CV-Library warn the rise could weigh on hiring. Read the full report: [ARTICLE URL] How will the wage rise affect your recruitment plans? #Budget2026 #MinimumWage #Employers](https://bmmagazine---co---uk.lsproxy.app/wp-content/uploads/2026/10/Healey_Budget_Money-420x236.jpg)
Healey confirms a minimum wage rise of 3.9 per cent for 2.3m workers, plus paid parental leave for self-employed fathers and a higher mileage rate.
A new scheme cuts business electricity bills by 25 per cent for 10,000 industrial firms from April, with backdated payments for energy costs this year.
Healey’s Budget introduces founders relief at 10 per cent on lifetime gains up to £10m, triples the trading allowance and halves the BADR lifetime limit.
Healey raises the small business rate relief threshold to £18,000 for shops, pubs and gyms, taking 70,000 more firms out of business rates altogether.
The key measures in Budget 2026, from energy bill support and business rates relief to a higher Bank Surcharge, wage rises and capital gains tax changes.
American Express job cuts will remove about 3,500 roles worldwide, with the company yet to say whether any of its 1,500 London staff are affected.
Liam Byrne MP has written to Amazon and TikTok over their reluctance to attend next Tuesday's consumer protection hearing on online marketplaces.
Up to 60,000 staff in the UK, US, Canada and India can take Microsoft voluntary redundancy, with finance, HR and Xbox teams among those eligible.
Retailers report higher sales of tinned food, radios, torches and power banks after the Be Ready campaign urged households to keep three days of supplies.
