Budget 2026: What we know so far

Chancellor of the Exchequer John Healey has confirmed that the Autumn Budget will take place on 28th October. But with months of speculation already surrounding the Government’s plans, what can landlords actually expect? Mia Rotaru, our policy and public affairs officer, looks at some of the key rumours surrounding the Budget and what we know so far – and invites you to join us for an exclusive budget webinar.

Ahead of every Budget, speculation builds around what the Chancellor might announce. Property taxation is often at the centre of these discussions, and this year has been no different. 

In fact, speculation about the Autumn Budget began even before Andy Burnham MP became Prime Minister, with a number of reports suggesting significant changes to the way property and land are taxed.

Could stamp duty be scrapped?

One of the more significant rumours has been that the Government could scrap stamp duty and council tax and replace them with a land value tax. 

The idea is not entirely new, as Andy Burnham MP has previously explored reforming the tax and has written in support of replacing Stamp Duty with a land value tax. Proposals to abolish Stamp Duty have become increasingly present in the political debate, and Conservative opposition also pledged at last autumn’s party conference to scrap it. 

A land value tax would typically be charged annually based on the value of the land on which a property sits, rather than being charged when a property is bought. The Prime Minister has also previously argued that land is “under-taxed”. However, no detailed Government proposal for introducing a land value tax has been published. 

More recently, however, the Prime Minister appeared to rule out changes to stamp duty in the upcoming Budget. Asked whether he would change or scrap stamp duty, he told reporters: “That won’t be happening.” 

This means that, while wider reform of property taxation could remain a longer-term consideration, there is currently no indication that stamp duty will be scrapped in the October Budget.

Could council tax by overhauled?

There have also been rumours Andy Burnham could overhaul council tax. Over the years, different options have been suggested, but it remains unclear which approach the Government might actually pursue if it chooses to proceed with this idea.

One possibility is to implement changes gradually from the top, starting by applying a percentage-based fee to high-value properties; this process could then be extended to revalue lower council tax bands and gradually update the 1991 prices. However, as mentioned earlier, these are only speculative proposals, and it’s uncertain whether or when such changes might be implemented by this government or in the near future with any significant overhaul of council tax being a major undertaking that would take time to develop and implement.

So, what should we expect on 28th October?

The contents of the Budget are not officially confirmed until the Chancellor stands up in Parliament and delivers the statement. While speculation can provide an indication of some of the issues being considered by Government, it should not be confused with confirmed policy. 

We understand how budget announcements can affect you and the private rented sector (PRS), influencing the costs of owning and renting property and will monitor these developments closely as the Budget approaches, so keep an eye on our news site and social media channels.

What happens next?

The NRLA policy team will be following the Chancellor’s announcements closely on 28th October and will provide members with updates on the measures that matter to landlords. 

We will also be holding a Budget 2026 webinar on 29th October, from 2pm to 3pm, where we will examine the announcements in more detail and explain what they could mean for you.

You can register for the webinar here.