Reeves to rush pension tax raid into law to calm nervous markets November 28, 2025 Chancellor Rachel Reeves is to rush through laws to enact her Budget, in a bid to reassure nervous markets that tax increases will be implemented even if they are not set to take effect for several years. Legislation to raise tax on pension contributions made through salary sacrifice schemes is expected to be introduced before Christmas, according [...]
FTSE 100 Live: London house prices fall amid Budget jitters November 28, 2025 Welcome back to the City AM liveblog. Markets were still digesting the twist, turns and taxes of the Autumn Budget on Thursday, with ministers taking to the media to defend the £26bn cash raid. A number of businesses began weighing in, including Britain’s bookies, which were in the firing line when Reeves took to the [...]
Salary sacrifice cap will hit ordinary earners hardest, research finds November 28, 2025 Reeves’ crunch Budget measures ranged from freezing income tax thresholds to fresh levies on milkshakes and lattes as she sought to lower the UK’s fiscal headroom. But it was her decision to rip up the salary sacrifice scheme that sparked the largest reaction from employers and employees alike. Under the most popular form of salary [...]
British founders dodged an exit tax – and bagged a few wins instead November 27, 2025 Startup founders went into this week’s Budget in a state of quasi-panic. Rumours of a so-called ‘exit tax’ on wealthy individuals, fuelled by weeks of speculation, sparked fears that Britain was about to hurt its own ecosystem. Far from taxing entrepreneurs on the way out, Rachel Reeves used her second Autumn Budget statement to shower [...]
Labour U-turns on workers’ rights manifesto pledge November 27, 2025 The government has reversed its contentious plans to hand all new staff protection from unfair dismissal from day one, after months of warnings about the workers’ rights package from industry and fierce political resistance from the House of Lords. Under revised proposals announced by the Department for Business and Trade (DBT) on Thursday, the protection [...]
Mansion tax is an ‘assault’ on London’s property market November 27, 2025 The UK’s new ‘mansion tax’ is set to hit homeowners in London hard, particularly for middle-class Londoners who have seen the price of their property balloon in the last two decades. Chancellor Rachel Reeves introduced a new high-value council tax surcharge for owners of properties valued at over £2m in her second Budget on Wednesday. [...]
Reeves criticised over lack of action on ballooning clinical negligence costs in Budget November 27, 2025 A leading medical defence organisation has criticised the Chancellor for missing the opportunity to tackle the ‘eye-watering’ NHS clinical negligence bill. In a statement following the Budget, Tom Reynolds, director of policy and communications at Medical Defence Union (MDU), explained that the “current system has led to legal fees ballooning to nearly four times the [...]
‘Fiscal fiction’: IFS challenges Reeves’ tax measures November 27, 2025 The Chancellor may need to come back for more tax rises at a future Budget, according to the Institute for Fiscal Studies (IFS) which warned much of the headroom Rachel Reeves carved out for herself relied on “near heroic restraint” on departmental spending in an election year. Helen Miller, the think tank’s director, said that [...]
How will the Budget impact your personal finances? November 27, 2025 It’s the day after Rachel Reeves’ crunch Budget, and while the Office of Budget Responsibility leak may be the main talking point, after months of speculation we finally know how personal finances will be impacted. As expected, Reeves extended income tax freezes and introduced a range of smaller taxes, in moves that are expected to [...]
Leak and Let Die: OBR calls in former spook to investigate early Budget release November 27, 2025 The embattled Office for Budget Responsibility (OBR) has brought in a former top spook to investigate how its entire forecast was published early before Rachel Reeves stood up to deliver the Budget. Alongside the watchdog’s oversight board, Ciaran Martin, former chief of the National Cyber Security Centre – part of the security services – will [...]