26/11/2025
The much anticipated UK Budget – What You Need to Know as follows:-
Here are the key points you need to know:-
⭐ Economic Outlook
The OBR has increased the UK’s growth forecast for this year from 1% to 1.5%.
However, long-term productivity forecasts have been revised down – meaning a projected £16bn less in tax revenue by 2030.
⭐ Tax Changes
£26bn in tax rises announced.
Income Tax and NI thresholds frozen for an additional three years from 2028.
A new NI charge on salary-sacrifice pension contributions, plus a £2,000 cap from 2029.
Dividend, property and savings income tax rates increasing by 2 percentage points.
A new “mansion tax” from 2028 on homes valued at £2m+.
Va**ng and online gambling duties are also set to rise.
⭐Business & Investment
Corporation Tax remains the lowest in the G7.
40% first-year allowance introduced for business investment.
The ISA system will be reformed in 2027, with £8,000 ring-fenced for specific investments.
Billions committed to major infrastructure projects including the Lower Thames Crossing, Midlands Rail Hub, Trans-Pennine upgrades, and new regional funding packages.
⭐Welfare & Social Measures
The two-child benefit limit scrapped – estimated to lift 450,000 children out of poverty.
Youth employment guarantee: £820m invested in training, apprenticeships and job support.
State Pension rising 4.8% under the triple lock.
£300m for NHS technology plus 250 new community health centres planned.
⭐Cost of Living
Scrapping the eco-scheme means £150 off average household energy bills from April.
Fuel duty cut extended to 2026.
A mileage-based tax for EV drivers coming in 2028.
The electric car grant extended to 2030.
National Living Wage rising to £12.71.
As with all these measures, the devil is often in the details which is yet to be released but if give you a flavour of the changes.
