Budget 2025 predictions: Balancing economic reality and political ideology

HM Treasury has announced that the Autumn Budget will take place on 26 November. We know that there is enormous pressure on the Chancellor, coming from the government's fiscal rules The first is that day-to-day spending must be matched by tax revenues The second is the investment rule, which requires the government to reduce net financial debt as a share of the economy Additionally, from the pledge that the government will not raise taxes on 'working people', and there will be no increases to income tax, National Insurance, or VAT. The combined effect is that the government ne...