The Chancellor Rachel Reeves has announced she will deliver her Autumn Budget on Wednesday, 26 November 2025.
Speculation on the Chancellor’s plans will finally come to an end, with taxpayers and businesses to find out her plans for taxation and spending.
Now that a date is in place, it’s the perfect time to ensure you understand your own financial position and plan accordingly.
Rachel Reeves will outline the Government’s plan for a number of important things, including taxation and spending plans.
In addition to this, she must place confidence in UK taxpayers who are managing the current cost of living crisis and ensure they are supported.
The Autumn Budget must demonstrate a plan that helps the Government balance its books, stimulate economic growth, and support taxpayers and businesses across the UK.
However, the reality is that tax rises or spending cuts will need to be made if the Chancellor is to stick to her own tight fiscal rules.
That will be a challenge for her with borrowing hitting its highest levels since 1998, jumping up to 5.72 per cent, making it increasingly expensive.
As well as announcing her taxation plans, she will also outline her spending plans to maintain and improve hospitals, schools, police, and the military to ensure they have effective resources in place.
The Chancellor also needs to ease concerns around the continued cost-of-living crisis and rising inflation rates.
Taxpayers will want clarity on financial support and how she plans to help families.
Families will want answers, especially with Ofgem announcing a two per cent rise to the energy cap from October, and inflation currently sitting at 3.8 per cent.
With the Budget coming just before the next energy cap is announced ahead of the UK’s coldest months, there will be concerns about what support will be available.
It’s a difficult challenge the Chancellor faces, but it’s one she needs to tackle effectively to improve the UK’s current economic climate.
While the Chancellor’s plans will remain under wraps until budget day, taxpayers and business owners need to assess the situation and prepare ahead of time.
She is giving herself as much time as possible to assess her budget, as well as give the Office for Budget Responsibility (OBR) time to produce an economic forecast for her plans.
You can be proactive and plan ahead.
There are going to be key changes which will affect taxpayers and businesses, especially with the continued high borrowing costs and large Government debt.
Understanding your own or your business’s financial position now can help you prepare ahead of time for every eventuality.
You can budget for change, assess your incomings and expenditure, and put a sound financial plan in place.
Financial advisors and experts can help you do this. They will offer tailored advice and support so you can build a picture of your finances and plan accordingly for this year’s Autumn Budget.
Get Autumn Budget ready. Contact our team for expert advice and support.
Jim Botton – Pleasure Beach (Skegness)
