Chancellor hints at potential tax hikes in Autumn Budget

Rachel Reeves confirms Autumn Budget on 30 October

Isabel Baxter
clock • 2 min read

Chancellor Rachel Reeves has suggested that the next budget will involve tax rises and cuts to spending and benefits.

In her speech addressing parliament yesterday (29 July), Reeves confirmed that she will be holding a budget on 30 October. It will involve taking difficult decisions to meet the government's fiscal rules across spending welfare and tax, Reeves confirmed. She has promised that it will be "a budget to fix the foundations of the economy". Reeves pledges not to raise working taxes Despite the hint at difficult decisions, Reeves reiterated her pledge not to raise National Insurance, basic higher or additional rates of income tax and value added tax - but said there will be "challengin...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Tax planning

IHT on pensions: 'We're going to have to muddle along with it until it works'

IHT on pensions: 'We're going to have to muddle along with it until it works'

PIMFA’s Simon Harrington touches on the reality of any changes

Isabel Baxter
clock 21 November 2025 • 1 min read
Advisers report more clients needing CGT advice after slashed thresholds

Advisers report more clients needing CGT advice after slashed thresholds

Clients needing CGT support doubles to 37%

Isabel Baxter
clock 20 November 2025 • 2 min read
Nasty shock? Personal representative duties post-6 April 2027 explained

Nasty shock? Personal representative duties post-6 April 2027 explained

'The buck stops with the PR'

Lisa Webster
clock 20 November 2025 • 3 min read