The UK IPO market has reached a historic low, with only one public offering in Q3 2026, according to EY’s latest analysis. The sole AIM listing of 1947 Oil & Gas plc raised £29.8m, marking the quietest quarter since late 2023. Total UK listings for the first nine months of 2026 stand at eight, raising £606.9m. Scott McCubbin, UKI IPO leader at EY, noted that limited summer activity contributed to this decline. He said a strong pipeline of businesses is preparing to come to market, but warned that upcoming fiscal decisions could impact future listings.

Optimism among UK business leaders has surged, with 86% confident about growth prospects, according to KPMG’s latest CEO outlook survey. This marks an increase from 74% last year, placing the UK third in global optimism, behind only Italy and India. Jon Holt, KPMG UK chief executive, noted that factors like a new government and AI-driven productivity gains have contributed to this positive outlook.

Chancellor John Healey is reportedly considering raising business rates on commercial properties valued above £500,000 to generate £1bn annually, with London offices particularly exposed. Ryan Tax Services estimates around 9,000 properties in London and the South East could be affected, including buildings in Canary Wharf and the Square Mile. More than 80% of potentially affected offices are concentrated in those regions. The proposals would exclude larger retail and hospitality premises while helping fund £1bn in rates relief for smaller businesses. Warehouses would also be protected following retailer opposition.

The Countryside Alliance has warned Chancellor John Healey that plans to classify holiday lets as second homes could threaten farmers’ livelihoods and rural tourism. The proposed changes would make properties liable for council tax rather than business rates. Around one in 10 farmers have diversified into holiday accommodation. Analysis by Finest Retreats suggests the changes could add more than £4,750 annually to property costs, reducing profit margins by 96% before mortgage payments.

Dan Neidle argues for a comprehensive overhaul of the UK tax system in City AM. The former tax lawyer points to the complexity of current tax laws, which discourage investment and entrepreneurship. Neidle advocates for reforms such as merging income tax and national insurance, simplifying business rates, and addressing high effective tax rates that hinder individual earnings. “We cannot tax our way to growth,” Neidle writes.

Kemi Badenoch is set to issue a warning to Labour regarding potential tax increases on banks during her visit to Edinburgh today. The Conservatives aim to caution Andy Burnham against yielding to left-wing pressures. Shadow chancellor Andrew Griffith said: “A raid on the financial services sector will stifle growth.”

Huw Pill, the chief economist at the Bank of England, has expressed scepticism about the likelihood of four interest rate hikes in the next year, as predicted by financial markets. However, speaking at an International Monetary Fund meeting, Pill argued that although the Bank has not yet seen second-round effects from price pressures it should have acted more quickly at the start of the Iran war to tamp inflation.

Business leaders are urging Chancellor John Healey to facilitate entry-level job creation for youth following Labour’s recent Budgets, which they labelled a “disaster”. The Confederation of British Industry (CBI) called for a rollback of the £25bn National Insurance tax increase on employers to alleviate hiring costs. The Retail Jobs Alliance also requested exemptions from business rate hikes to protect jobs in physical stores. Meanwhile, City AM reports that Healey is set to propose measures aimed at reducing hiring costs for under-25-year-olds in the upcoming Budget. The initiative seeks to address the rising youth unemployment crisis, with options including extending National Insurance contributions relief or offering tax holidays for businesses hiring young workers.

The Centre for Social Justice (CSJ) reports that roughly 1.8m foreign nationals received £23bn in benefits and pensions last year. This is projected to exceed 2m by 2030, with costs rising to £27bn. The CSJ claims 1.4m foreign nationals receive working-age benefits, costing £14.3bn, alongside £2.9bn in pensions and £5.8bn in child-related support. Former Conservative leader Sir Iain Duncan Smith, who founded the CSJ, said: “We must urgently now restore contribution and reciprocity to the welfare system while helping the millions of Brits on out-of-work benefits back towards a better future for themselves and their families. We have done this before, we can do it again.”