Autumn Budget: Pay-per-mile tax ‘completely wrong move’ November 26, 2025 Chancellor Rachel Reeves has hit electric vehicles with a pay-per-mile tax which will cost the average driver £255 per year and raise £1.1bn for the Treasury. Reeves delivered the expected 3p pay-per-mile tax for electric vehicles (EVs) at today’s Budget, which she framed as a fairness measure to balance the costs facing drivers. The OBR, the independent fiscal [...]
Autumn Budget: Don’t let OBR gaffe mask Labour’s own mistakes November 26, 2025 The OBR's mistake was spectacular but accidental. The same can't be said for Labour, whose Budget missteps will do nothing to shift the economy.
Budget: Octopus boss Greg Jackson hails cuts to energy bills November 26, 2025 Octopus Energy boss Greg Jackson has hailed the cuts to energy bills announced in today’s Budget, as the Chancellor slashed multiple renewable levies. Jackson welcomed the energy bill cuts as a “positive step” as Rachel Reeves described energy costs as “one of the greatest drivers of the rising cost of living”. Reeves said she will scrap [...]
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: Reeves splurges £12bn on welfare as two-child benefit cap ditched November 26, 2025 The UK’s fiscal watchdog has forecast welfare spending to soar over the next few years after the Labour government ditched plans to reform the welfare state. The Office for Budget Responsibility (OBR), which accidentally published its report before the Budget, has said welfare spending will rise by £12bn in the fiscal year 2029-30, when compared [...]
Rachel Reeves’ Budget was Labour to the core November 26, 2025 Cheered by backbenchers, Reeves' headline pledge to scrap the two child benefit cap made for a party-appeasing Budget, writes Douglas Beattie.
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 [...]
OBR warns Budget leaves UK ‘vulnerable’ as tax burden hits all-time high November 26, 2025 The UK’s public finances have been left in a vulnerable position, the UK’s fiscal watchdog has warned in a damning verdict of Rachel Reeves’ Budget. In a report accidentally published before the Budget was announced, the Office for Budget Responsibility said Reeves’ spending plans leave the UK spending more on debt interest than at almost [...]
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 [...]