{"id":283904,"date":"2025-11-26T06:58:12","date_gmt":"2025-11-26T06:58:12","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/283904\/"},"modified":"2025-11-26T06:58:12","modified_gmt":"2025-11-26T06:58:12","slug":"autumn-budget-2025-live-rachel-reeves-promises-not-to-bring-the-uk-back-to-austerity-news-politics","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/283904\/","title":{"rendered":"Autumn Budget 2025 Live: Rachel Reeves promises not to bring the UK back to austerity | News Politics"},"content":{"rendered":"

The Chancellor has vowed that she will not return the UK to austerity ahead of the unveiling of her second Budget<\/a>.<\/p>\n

In a filmed video ahead of the Budget, Rachel Reeves<\/a> said the Government<\/a> had started to see results in the past year with \u2018wages rising faster than inflation, hospital waiting lists coming down, and our economy<\/a> growing faster and stronger than people expected\u2019.<\/p>\n

\u2018But I know there is more to do,\u2019 she said. \u2018I know that the cost of living<\/a> is still bearing down on family finances, I know that people feel frustrated at the pace of change, or angry at the unfairness in our economy.<\/p>\n

\u2018I have to be honest that the damage done from\u00a0austerity, a chaotic Brexit<\/a> and the pandemic were worse than we thought.<\/p>\n

\u2018But I\u2019m not going to duck those challenges, and nor will I accept that our past must define our future. It doesn\u2019t have to.\u2019<\/p>\n

She described the Budget as being for \u2018the British people\u2019 and said the Government would work<\/a> with them to \u2018build a fairer, stronger and more secure Britain\u2019.<\/p>\n

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\t \t\t\t\t\t November 26, 2025 6:43 am <\/p>\n

Budget recap: What\u2019s been announced so far<\/p>\n

There\u2019s been a flurry of activity from the Treasury and other outlets over the last few days. On Budget eve, here\u2019s what was unveiled:<\/p>\n

The national living wage is set to go up 4.1% next year, marking a \u00a3900 annual pay rise for millions of workers. From April 2026 the living wage will rise by 4.1% to \u00a312.71 an hour for workers aged 21 and over, helping about 2.4million people. And the national minimum wage, which is for 18 to 20-year-olds, will increase by 8.5% to \u00a310.85, an annual bump of \u00a31,500.
\nWes Streeting confirmed yesterday the rollout of the much-talked about milkshake tax in a bid to tackle obesity \u2013 here\u2019s everything you need to know about it<\/a><\/p>\n

A government-backed savings account, called the Help to Save scheme, is being set up. It offers a 50% bonus on the amount of cash users stash away, and will open fully in 2028 after previously only being set to run until April 2027
\nRachel Reeves will reportedly let Mayor of London Sadiq Khan impose a \u2018tourist tax\u2019 on overnight stays in the capital
\nMotability Operations, the organisation which runs the Motability scheme, said luxury cars such as Mercedes and BMW will be scrapped from the scheme, and instead cars from British makers will be prioritised instead<\/p>\n

\t \t\t\t\t\t November 26, 2025 6:33 am <\/p>\n

What we can expect to be announced today<\/p>\n

Rachel Reeves, the Chancellor of the Exchequer, has said she will make \u2018necessary choices\u2019 for the economy.<\/p>\n

She will reveal the balance sheet at 12.30pm tomorrow \u2013 here\u2019s what to expect based on reports so far:<\/p>\n

Rates for income tax, which is paid on money you earn, will not be raised.
\nThe minimum wage will be increased.
\nScrapping or limiting the two-child benefit cap, which means parents can only claim welfare for their first two children.
\nCutting the 5% VAT rate on energy, which would bring electricity and gas bills down.
\nCapping the amount of money workers can pay into their pensions under \u2018salary sacrifice\u2019 schemes, without paying National Insurance at \u00a32,000.
\nA new tax on high-value homes in England.
\nSlashing the amount of money that can be saved in cash Individual Savings Accounts (Isas) from \u00a320,000 to \u00a312,000.
\nLandlords could pay more National Insurance.
\nTying a loophole that allows overseas sellers to send packages less than \u00a3135 to the UK without paying import duties.
\nA new tax on electric vehicles, charging EV drivers about 3p per mile.
\nThe so-called milkshake tax, which will see the pre-existing sugar tax apply to the beverage as well as lattes.
\nLimiting the tax break that people can get when buying a bicycle through the Cycle to Work scheme.<\/p>\n

\t \t\t\t\t\t November 26, 2025 6:23 am <\/p>\n

Reeves says public \u2018angry at unfairness\u2019 in economy ahead of Budget<\/p>\n

Rachel Reeves acknowledged people are \u2018angry at unfairness\u2019 in the British economy ahead of unveiling her second Budget on Wednesday.<\/p>\n

In a filmed address ahead of the Budget, the Chancellor said the Government had started to see results in the past year with \u2018wages rising faster than inflation, hospital waiting lists coming down, and our economy growing faster and stronger than people expected\u2019.<\/p>\n

\u2018But I know there is more to do,\u2019 she said. \u2018I know that the cost of living is still bearing down on family finances, I know that people feel frustrated at the pace of change, or angry at the unfairness in our economy.<\/p>\n

\u2018I have to be honest that the damage done from\u00a0austerity, a chaotic Brexit and the pandemic were worse than we thought.<\/p>\n

\u2018But I\u2019m not going to duck those challenges, and nor will I accept that our past must define our future. It doesn\u2019t have to.\u2019<\/p>\n

The Chancellor insisted she will use her Budget to introduce measures to tackle the cost-of-living crisis, as the beleaguered Government hopes to keep backbench Labour MPs on side amid an expected series of tax rises.<\/p>\n

\t \t\t\t\t\t November 26, 2025 6:21 am <\/p>\n

Good morning, welcome to Metro\u2019s Autumn Budget blog<\/p>\n

Good morning \u2013 and we\u2019re back! We\u2019ll be bringing you the latest coverage of the Budget as it is unveiled in the House of Commons in Westminster later on today.<\/p>\n

Arrow
\nMORE: Is the Labour government diverse enough? Readers discuss<\/a><\/p>\n

Arrow
\nMORE: Don\u2019t judge Nigel Farage for his actions at 13, judge him for his actions at 61<\/a><\/p>\n

Arrow
\nMORE: Pub owners say booze tax hike would be \u2018vindictive\u2019 and drive up drinks prices<\/a><\/p>\n


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