UK Budget 2025: Major Tax Changes, Protests & UK Economic Plans

Chancellor of the Exchequer Rachel Reeves is set to present her second Budget today, Wednesday, November 26, 2025. Significant protests are expected, as some of the planned measures may introduce major new costs for certain groups — with farmers among those gathering in Westminster.

The Budget is anticipated to outline changes to benefits, income tax bands, property taxes, the child benefit cap, and ISAs. Additional updates are expected on the sugar tax, minimum wage, train fares, prescription charges, and the cost of owning an electric vehicle. Reeves is also thought to be preparing a series of smaller adjustments aimed at improving the UK’s financial position, including the possible introduction of a tourism tax.

Reeves will deliver her statement in the House of Commons at 12:30pm, followed by a response from the Leader of the Opposition, who will outline the Conservative Party’s position. At 2:30pm, the Office for Budget Responsibility will give its assessment during a press conference, while Reform UK leader Nigel Farage will share his reaction at 4pm.

Describing her Budget as one designed “for the British people,” Reeves said the Government is committed to working with the public to “build a fairer, stronger, and more secure Britain.” She emphasised that the plan will introduce measures to ease the cost-of-living crisis, with the Government aiming to reassure Labour backbenchers ahead of a series of expected tax increases.

Reeves has also pledged to reduce the burden of Government debt and is likely to introduce steps to widen the fiscal margin within her borrowing framework. “Today I will take the fair and necessary decisions to deliver the change we promised,” she said ahead of the announcement.

She added that she will not return the country to austerity nor allow spending to spiral through excessive borrowing, promising instead to push forward with the most ambitious growth strategy in a generation.