Ahead of Labour conference: Farage remains top rival as bank tax dispute continues
Ahead of the UK Labour Party's 2026 conference, party leadership again names Nigel Farage as its main political opponent and backs limits on party spending, while ministers continue to face questions over a possible bank tax and the effects of Brexit on business.
Farage still the main target
Labour Party chair Bridget Phillipson said Nigel Farage remains the party's principal political opponent. Her comments came ahead of the party's upcoming conference, underlining that countering Farage's influence remains a central priority for Labour. Phillipson also voiced support for proposals to cap political party spending, part of a broader debate over political financing in the UK.
Bank tax controversy
A UK Treasury minister said her previous role as a representative of the City of London does not amount to a conflict of interest, even though she now holds a ministerial position affecting the financial sector. The remark comes as City institutions lobby heavily against a possible windfall tax on banks that the government could introduce in the October budget.
Brexit's impact on business
Cabinet minister Jonathan Reynolds said attempts to unwind Brexit are having a negative effect on business. He argued that government focus should instead be on improving Britain's trading relationship with Brussels rather than revisiting or reversing the Brexit decision.
Conference under new leadership
POLITICO reporters are preparing extensive coverage of the UK Labour Party's 2026 annual conference, the first since Andy Burnham took over leadership of the party. The gathering is expected to reveal key political dynamics that will shape the party's direction going forward.
