Saxo Bank
Danish investment bank and online broker, founded in Copenhagen in 1992.
Saxo Bank is a Danish online investment bank and broker, founded in Copenhagen in 1992, which launched one of Europe's first online trading platforms in 1998 and is now wholly owned by J. Safra Sarasin Group.
Last refreshed: 7 October 2026 · Appears in 1 active topic
Has the £24bn of Budget headroom halved, and will the triple lock survive?
Timeline for Saxo Bank
Estimated that the Budget headroom has at least halved
Is Britain Actually Broke?: Healey rules out three big tax risesBackground
Saxo Bank is a Danish investment bank and online broker. By its own account it was founded in Copenhagen in 1992 and in 1998 launched one of Europe's first online trading platforms. Its website says J. Safra Sarasin Group has completed its acquisition of the bank and now owns it outright.
Saxo's part in British fiscal debate comes through its market commentary. Neil Wilson, its commentator, estimated that the headroom of roughly £24bn left after the March forecast has at least halved under Chancellor John Healey, WHO has ruled out rises in VAT, income tax and corporation tax and pledged to meet the fiscal rules. Citing Institute for Fiscal Studies work, Wilson put the state pension £16bn a year above an earnings link and gave odds of about 30% that this Budget ends the triple lock.
These are a broker's estimates, not official figures. The Resolution Foundation put headroom against the fiscal rules at about £10bn in July, and the Office for Budget Responsibility will set out its own figure on 28 October.