Politics · 25 November 2025
UK plans tax increases in new budget
© UK Parliament / Maria Unger via Wikimedia Commons (CC BY 3.0)
UK Finance Minister Rachel Reeves is likely to unveil £20-30 billion of new tax rises in her upcoming budget, following last year’s £40 billion tax increase. The budget will seek to raise more revenue without returning to austerity, through measures such as income-tax threshold freezes, higher taxes on expensive homes and gambling, and possibly a mileage charge for electric cars. Market confidence and political support are under pressure due to economic headwinds and fiscal challenges.
Reported by Reuters · How we write briefs