Wed, 03 Sep 2025

Wed, 03 Sep 2025 Budget to be held on 26 November, Reeves confirms

The chancellor will set out her plans for the UK economy in November with speculation growing over tax rises.

* The UK's Budget will take place on November 26
* Chancellor Rachel Reeves said the budget will focus on investing in the economy and helping working people
* She acknowledged that tax rises or spending cuts may be needed to meet borrowing rules
* Economists have warned of a potential £50 billion hole in public finances, with long-term borrowing costs reaching their highest level since 1998
* The government's independent forecaster, the Office for Budget Responsibility (OBR), is working on a new economic forecast based on Reeves' policies
* Reeves said she wants to bring inflation and borrowing costs down by keeping a tight grip on day-to-day spending
* Shadow chancellor Mel Stride accused Labour of "stalling" and leaving the budget until late, while Lord Jim O'Neill said it's "decision time" for the PM and chancellor
* Treasury sources said the end of November is typical timing for an Autumn budgetary statement.
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