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Reeves insists economic plan working in 'uncertain' world as UK growth forecast lowered for 2026

Rachel Reeves says “I’m asking everyone to make a contribution,” said the chancellor, who later refused to rule out more tax rises in future Budgets.

From 18 November 2025, Companies House will require all directors and PSCs to verify their identity and provide their Companies House personal code. This guide explains what you need to do, when you must do it, and the verification options available.

Ms Reeves said the Budget will raise £40 billion in taxes. Employers’ National Insurance contributions (NICs) will be increased from next April while Capital Gains Tax rates will also rise. Inherited pensions will fall within the Inheritance Tax net from April 2027 while reliefs will be reformed on the passing down of agricultural and business assets.

A Family Investment Company (FIC) is a UK-registered company that focuses on investing family wealth rather than engaging in trading activities

Ms Reeves said the Budget will raise £40 billion in taxes. Employers’ National Insurance contributions (NICs) will be increased from next April while Capital Gains Tax rates will also rise. Inherited pensions will fall within the Inheritance Tax net from April 2027 while reliefs will be reformed on the passing down of agricultural and business assets.

Jeremy Hunt says the UK economy has dealt with the financial crisis, the pandemic and energy crisis caused by war in Europe. He acknowledges that interest rates “remain high as we bring down inflation”, but adds: “We can now help families not just with cost of living support but with permanent cuts in taxation.” He calls it a “budget for long term growth”

In January 2023 the Prime Minister set out three economic priorities: to halve inflation, grow the economy and reduce debt. Consumer Prices Index (CPI) inflation has now more than halved from a peak of over 11% last autumn to 4.6% in October 2023.

At Spring Budget 2023 the government is building on this foundation, with a plan to deliver on three of the five key priorities set out by the Prime Minister in January: to halve inflation, grow the economy and get debt falling.This comes against a backdrop of higher levels of government debt due to the economic impacts of the COVID-19 pandemic

The Autumn Statement 2022 comes at a time of significant economic challenge for the UK and global economy. Putin’s illegal war in Ukraine has contributed to a surge in energy prices, driving high inflation across the world.

Chancellor Kwasi Kwarteng has unveiled the biggest package of tax cuts in 50 years, as he hailed a "new era" for the UK economy.