Thu, 27 Nov 2025

Thu, 27 Nov 2025 Who are the winners and losers from Rachel Reeves' Budget?

BBC Verify has examined what we know about how the Budget is likely to financially affect different groups.

* Lower income households are more likely to benefit from tax and benefit changes, while higher income households are more likely to lose out.
* Pensioner households are more likely to benefit (56%) than working-age families with children (33%).
* New taxes will primarily affect people with higher incomes, such as:
* High-value council tax surcharge in England
* Increased income tax rates on property, savings, and dividend income
* National Insurance on pension contributions made through workplace salary sacrifice schemes
* Top 10% of earners will see their incomes reduced by around £2,000 by 2028-29.
* Middle earners will face a £300 reduction in their incomes, while the bottom 20% will be impacted by only £200.
* Extension of income tax threshold freeze will drag more people into paying taxes as their wages rise with inflation.
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