What does the Budget mean for you? November 26, 2025 Rachel Reeves’ second Budget has been the most closely watched in recent memory, with media briefings and soundings on all sides. Rachel Reeves has raised taxes by £26bn in her second Budget, which follows on from last year’s £40bn. They will go up to well over 38 per cent of GDP by 2030, the OBR [...]
Turf good, grassroots bad: Budget spares horse racing but divides sport November 26, 2025 Horse racing chiefs have welcomed the Chancellor’s decision to afford it an exemption from major increases in gambling taxes announced in today’s Budget. While tax on remote gaming will jump to 40 per cent from April and remote sports betting from 15 to 25 per cent in 2027, duty on horse racing wagers has been [...]
Budget: Treasury focused on ‘closing tax gap’ with US-style whistleblower scheme November 26, 2025 Rachel Reeves revealed in her Budget that the government continues to focus on closing the tax gap, with new measures set to raise an additional £2bn in tax revenue by 2029-30. The Chancellor pledged that the government will target “fraudulent businesses” that don’t pay their tax by providing HMRC with new compliance powers. A large [...]
The pension triple lock won’t ‘last forever’, warns Labour MP November 26, 2025 A Labour MP has admitted that the pension triple lock won’t “last forever”, as the Budget fails to mention an end to the controversial scheme. Speaking live to City AM‘s Christian May and Alys Denby, Chris Curtis, MP for Milton Keynes North, said that the “triple lock inevitably cannot last forever”. He said: “That is [...]
Budget: Kemi Badenoch slams ‘shameless’ Rachel Reeves November 26, 2025 The mood in the House of Commons morphed from rowdy to somewhat tense following the Budget, as Kemi Badenoch launched a series of scathing political and personal attacks on Rachel Reeves. The Conservative leader slammed the Chancellor’s position as “untenable”, and her fiscal announcements as a “Budget for Benefits Street”. Badenoch said: “I hope she [...]
Autumn Budget: Salary sacrifice pension contributions capped November 26, 2025 Chancellor Rachel Reeves has ripped up the salary sacrifice scheme regime, to the chagrin of both employers and employees, and could potentially put Brits’ pension savings at risk. Salary sacrifice allows employees to give up a portion of their salary for other benefits, such as childcare vouchers and electric vehicle grants, reducing total income and [...]
Autumn Budget: Cash ISA tax free allowance slashed to £12,000 November 26, 2025 In a major policy shakeup, Chancellor Rachel Reeves has confirmed a slash to the cash ISA ceiling but over 65s will retain the full allowance. After weeks of speculation, Reeves confirmed the ceiling will be cut from £20,000 to £12,000 as of April 2027, as part of her bid to stop people from hoarding cash [...]
WATCH LIVE: City AM reacts to the Budget November 26, 2025 After months of speculation and mounting political drama, Rachel Reeves has delivered her second Budget. City AM‘s team has all the latest news throughout the day on our Live Blog via CityAM.com and the City AM App, along with a special livestream broadcast from the heart of the Square Mile at 2pm. Broadcasting live from the London Stock Exchange, City AM‘s Editor [...]
Budget: Stealth tax raid making some earners £3,800 worse off November 26, 2025 Freezing income tax thresholds is set to make a worker earning the median wage as much as £2,310 worse off had the measure never been introduced as Chancellor Rachel Reeves looks set to unleash a stealth tax raid at the Autumn Budget. Analysis by Quilter has revealed that extending the current freeze alone will add an [...]
Autumn Budget Live: Wealthy, landlords and pensions hit in £26bn tax raid November 26, 2025 Welcome back to the City AM liveblog. In a shocking turn of events the UK fiscal watchdog has accidentally released the economic forecasts – intended to be published after the Budget – before the Chancellor even took to the despatch box. Rachel Reeves has raised taxes by £26bn in her second Budget, which follows on [...]