Autumn Statement 2025
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.
Rachel Reeves has declared her budget will slash living costs for millions including ending the two-child benefit limit and cutting energy bills, but taxes are set to soar by £26bn to plug a gaping shortfall in the public finances.
After months of speculation, Reeves said her measures would put the public finances on a sustainable path while building “a fairer, a stronger, a more secure Britain” by tackling inflation and investing in large infrastructure projects. She also built herself a larger £22bn of headroom – to stave off future cycles of pre-budget speculation that she will miss her fiscal rules and to bring down borrowing costs.
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