Budget 2026: DMO trims long-gilt sales from its pre-Budget plan, bank surcharge set to rise to 6%, share stamp tax cut stays under review
The Chancellor's Budget, delivered on 28 October, lifts the DMO's 2026-27 net financing requirement by £7.4bn from the April remit revision, but cuts planned long conventional gilt sales by £7.7bn against the DMO's pre-Budget split (£6.9bn against the April remit). It plans a temporary rise in the Bank Corporation Tax Surcharge from 3% to 6% from 1 January 2027 to 31 March 2028, and confirms that the Securities Transfer Tax is to replace stamp duty on shares from late 2027, with a cut kept under review rather than announced. For market structure, the substance lies in the debt-management annex, not the tax measures.