Rachel Reeves. Picture courtesy of PA Media | via BBC

 

Rachel Reeves, the UK Chancellor, announced a £26bn increase in taxes, sparking varied reactions. Key changes include extending the tax threshold freeze and introducing higher property taxes. Despite criticism, Reeves maintains the measures address economic challenges responsibly.

 

The Budget announcement includes a three-year freeze on tax thresholds, meaning millions will face higher taxes. Property worth over £2m will incur a new tax, alongside increased duties on savings, electric cars, and betting. Reeves scrapped the two-child benefit cap, pledging to lift hundreds of thousands of children out of poverty by April next year.

 

Before Reeves' speech, the Office for Budget Responsibility (OBR) accidentally leaked information, prompting an investigation. Reeves emphasised the importance of avoiding reckless borrowing and maintaining strong public services. The OBR predicts these tax rises could push the UK's tax income to 38% of the national total by 2031.

 

Reeves defended her plan as fair and necessary, targeting those "with the broadest shoulders" and asserting that no major tax rates, such as VAT or Income Tax, will rise. However, the Conservative and Liberal Democrat parties criticised the plan as an attack on aspiration, with increased welfare spending and insufficient cost of living solutions.

 

The UK Labour Party faces growing internal and public pressure. Keir Starmer's leadership remains under scrutiny amid concerns over living expenses. Labour MPs praised her decision to remove the two-child benefit cap, which Reeves claimed benefited children and reduced poverty, reported the BBC.

 

The announcement received mixed reactions from the market. Borrowing costs improved, and the pound rose after an initial fall. The Institute for Fiscal Studies cautioned that the budget's optimistic fiscal forecasts relied heavily on pre-election tax increases, warranting scepticism regarding their feasibility.

 

Key Takeaways:

 

• Rachel Reeves announced a £26bn tax increase affecting millions.
• The Budget includes taxes on properties, cars, and online betting.
• Market responses were mixed, with improved borrowing costs post-announcement.

 

  Adapted by ASEAN Now from BBC 2025-11-27

 

 

 

 

Apart from freezing the tax free allowance, doesn't affect most of us.

I agree with that BritMan. 

 

Myself I wish Labour had taken the opportunity to means test the State Pension, drop the triple lock, and make substantial cuts to the ridiculous Mobility Scheme, (although some adjustments had been made). 

 

IMO no good wailing at Labour - the Tories had 14 years to address burgeoning Govt debt, (now amounting to some £40,000 per head, or more, and that's excluding future Pension liabilities). Not much done about a Benefits crackdown !

 

The economy was doing better under the steady hands of Sunak/Hunt but anti-incumbency sunk them, without trace!

 

 

 

 

 

After the last budget she said she wouldn't come back for more.

 

Then she comes back for 26 Billion more. 

 

More lies from Labour. They should rename the party to Welfare as this budget simply takes money from working people and gives it to those on benefits. Classic socialism. This will wreck the economy further. 

 

Hilariously the budget was leaked hours before she did her speech😄. It never rains but it pours. Mr Reeves better get the tissues ready there might be more than 2 tears this evening from Rachel from accounts. 

32 minutes ago, JonnyF said:

Rachel from accounts.

Wearing your misogynist badge with honor.

1 minute ago, WorriedNoodle said:

Wearing your misogynist badge with honor.

 

I love women.

 

Just not the lying, incompetent ones that burst into tears when called out on their lying incompetence. 

The 'leak' of the full Budget was a desperate mistake but nothing to do with Reeves - it was the 'OBR's' howler ! 

 

However, I deplore the last few months of Reeves' leaking proposals to the 'Party' and others, to get reactions. The Chancellor should simply prepare the necessary measures, explain it fully to the Cabinet and then announce it in Parliament as usual. With no pre-seeding of ideas !

 

And she still hasn't tackled the problem of Govt. borrowing and it's overwhelming burden of cost. 

 

FOR THE NEXT 2 YEARS, GOVT. SPENDING WILL EXCEED GOVT. INCOME BY ABOUT £1,500 PER MAN, WOMAN, CHILD (AND IMMIGRANT), adding to Govt. debt.

 

IMO this Budget is a clever attempt, but it ducks the major problems. The triple lock on OA Pensions must go AND the OAPension itself, should be 'means tested'. 

I won't be back for more, she said.

 

https://www.tax.org.uk/no-more-tax-increases-in-this-parliament-chancellor-tells-mps

 

 

Oh wait a minute...

 

https://news.bloombergtax.com/daily-tax-report-international/reeves-builds-bigger-fiscal-buffer-in-uk-budget-released-early

 

 

The Lying Welfare, sorry I mean Labour party. 

4 hours ago, JonnyF said:

 

I love women.

 

Just not the lying, incompetent ones that burst into tears when called out on their lying incompetence. 

Loving women but loathing the 'lying, teary incompetents' is just rebranded misogyny. Reeves caught flak in PMQs like any human under siege, but only she gets stereotyped as fragile. Male Chancellors botch budgets sans the 'Rachel from Accounts' sneer.

3 hours ago, JonnyF said:

I won't be back for more, she said.

 

https://www.tax.org.uk/no-more-tax-increases-in-this-parliament-chancellor-tells-mps

 

 

Oh wait a minute...

 

https://news.bloombergtax.com/daily-tax-report-international/reeves-builds-bigger-fiscal-buffer-in-uk-budget-released-early

 

 

The Lying Welfare, sorry I mean Labour party. 

The mansion tax must be crippling you on that gaff of yours you keep posting photos of.

 

6 hours ago, TorquayFan said:

I agree with that BritMan. 

 

Myself I wish Labour had taken the opportunity to means test the State Pension, drop the triple lock, and make substantial cuts to the ridiculous Mobility Scheme, (although some adjustments had been made). 

 

IMO no good wailing at Labour - the Tories had 14 years to address burgeoning Govt debt, (now amounting to some £40,000 per head, or more, and that's excluding future Pension liabilities). Not much done about a Benefits crackdown !

 

The economy was doing better under the steady hands of Sunak/Hunt but anti-incumbency sunk them, without trace!

 

 

I agree that the triple lock should be dropped - link rises to inflation - and that many of the welfare related schemes - including the mobility scheme - require a thorough overhaul: While it would almost certainly lead to major savings, I'm not so sure about means testing the State Pension (although there's more than an element of self-interest in my reply😁).

 

However, such discussion is now redundant. If these types of 'bold' measures were going to be enacted, then it would had to have happened by now. The future cannot be predicted of course, but other things being equal - and assuming Labour last the full term - I would expect the next two budgets to be dull with the final one containing some 'give aways'.

 

I also agree (largely) with your comments re the Tories and Sunak/ Hunt. Imo Sunk and Hunt deserve a lot of credit for the way that they handled things in the aftermath of Trusses' disastrous tenure. Unfortunately, they then undid much of their good work with their blatant attempt to court favour and 'buy' votes with their two completely economically unjustified cuts to NI.

14 minutes ago, Chomper Higgot said:

The mansion tax must be crippling you on that gaff of yours you keep posting photos of.

 

 

I think you're confusing me with another poster Chomps, I've never posted pictures of my house. 

 

Or perhaps it was an attempt to deflect from the subject, Labour taxing everyone into oblivion having made a manifesto pledge not to? 

26 minutes ago, WorriedNoodle said:

Loving women but loathing the 'lying, teary incompetents' is just rebranded misogyny. Reeves caught flak in PMQs like any human under siege, but only she gets stereotyped as fragile. Male Chancellors botch budgets sans the 'Rachel from Accounts' sneer.

 

I like mentally strong, intelligent women. Karoline Leavitt would be a good example. 

 

Not fragile, teary, weak, lying incompetents like Rachel from accounts. 

 

I realize some simpish, insecure men prefer the latter though. 

10 minutes ago, JonnyF said:

 

I like mentally strong, intelligent women. Karoline Leavitt would be a good example. 

 

Not fragile, teary, weak, lying incompetents like Rachel from accounts. 

 

I realize some simpish, insecure men prefer the latter though. 

You habit of vomiting misogynistic bile towards intelligent, articulate women who have the temerity to speak up for themselves or express an opinion you don’t agree with is a matter of record across multiple threads on this forum.

 

1 minute ago, Chomper Higgot said:

You habit of vomiting misogynistic bile towards intelligent, articulate women who have the temerity to speak up for themselves or express an opinion you don’t agree with is a matter of record across multiple threads on this forum.

 

 

Why are you mentioning intelligent, articulate women on a thread about Rachel from accounts?

 

She is neither.

 

She is also mentally weak and a liar.

 

If a woman is incompetent, fragile and a liar I will call it out. Same as I do with pathetic lying men like Keir Starmer. Your predictable cries of misogyny will not silence me. Feel free to keep trying though. 

 

 

7 hours ago, BritManToo said:

Apart from freezing the tax free allowance, doesn't affect most of us.

Do you live in Thailand? Is your income denominated in sterling? 

 

Keep an eye on the exchange rate and UK inflation. You may find the former decrease and the latter increase. That can seriously impact your purchasing power in Thailand. I am aware the triple lock keeps the state pension ahead of inflation but the state pension alone is not enough to live on here.

Must have been a good budget... got callers into Times radio saying they are struggling on 75K Punts a year.......

17 minutes ago, brianburi said:

Must have been a good budget... got callers into Times radio saying they are struggling on 75K Punts a year.......

 

Not surprised. The huge population increase in such a short amount of time has driven up house prices to crazy levels, especially in London. Now we have tax increases to pay for all the people on welfare. 

 

But hey, who cares if you can put food on the table when you have cultural enrichment. 

6 hours ago, WorriedNoodle said:

Wearing your misogynist badge with honor.

The “Rachel from accounts” thing isn’t misogyny, it’s just people taking the p*ss because she exaggerated her experience as an economist on her CV / LinkedIn.

 

It is the same / opposite of people taking the p*ss out of Farage for his “man of the people” act.

1 hour ago, Chomper Higgot said:

You habit of vomiting misogynistic bile towards intelligent, articulate women who have the temerity to speak up for themselves or express an opinion you don’t agree with is a matter of record across multiple threads on this forum.

 

 Karoline Leavitt's nephew has just been arrested for overstaying since 1998   

16 minutes ago, still kicking said:

 Karoline Leavitt's nephew has just been arrested for overstaying since 1998   

 

No he hasn't. 

 

The nephew is 11 years old. 

49 minutes ago, JonnyF said:

 

No he hasn't. 

 

The nephew is 11 years old. 

 

Just now, still kicking said:

 

 

Like I said, it is not the Nephew.

3 hours ago, JonnyF said:

 

I like mentally strong, intelligent women. Karoline Leavitt would be a good example. 

 

Aha hah ah ah ha ha ha ha ha, oh please.

So you call Rachel a liar, but you respect one of the biggest liars out there! And a sycophant to boot. 

So know we know Jonny's "type": Subservient, sycophantic, untruthful, and blonde (I assume).

1 hour ago, JonnyF said:

 

Not surprised. The huge population increase in such a short amount of time has driven up house prices to crazy levels, especially in London. Now we have tax increases to pay for all the people on welfare. 

Yeah, all those illegal boat people you constantly bleat on about buying up all the London property and driving house prices up.

Pesky filthy rich illegal immigrants.

3 minutes ago, JonnyF said:

 

Like I said, it is not the Nephew.

Karoline Leavitt's Immigration Controversy With Relative Has Melania Trump On Everyone's Lips

Read More: https://www.thelist.com/2037236/karoline-leavitt-family-immigration-controversy-has-melania-trump-on-everyones-lips/

Karoline Leavitt's Immigration Controversy With Relative Has Melania Trump On Everyone's Lips

Not sure why a traditional Labour budget with some low level redistribution is considered 'controversial'!  

 

Time will tell how effective it will be. 

1 hour ago, JonnyF said:

 

Not surprised. The huge population increase in such a short amount of time has driven up house prices to crazy levels, especially in London. Now we have tax increases to pay for all the people on welfare. 

 

But hey, who cares if you can put food on the table when you have cultural enrichment. 

 

Careful, you're slipping, Jonny. It's taken you seven posts before you've got around to having a dig at immigrants.

 

Type in 'London house inflation from 2019 to date" (2019 chosen because it was pre-Brexit and pre-pandemic). Have a look at the AI generated answer. Notice anything?

 

So much for your theory.

1 hour ago, JonnyF said:

 

Not surprised. The huge population increase in such a short amount of time has driven up house prices to crazy levels, especially in London. Now we have tax increases to pay for all the people on welfare. 

 

But hey, who cares if you can put food on the table when you have cultural enrichment. 

Schrödinger's immigrants, simultaneously living in five star hotels and driving up house prices.

 

Maybe the blame does not rest where  your pathological fixation on immigrants is telling you: 

 

“According to Land Registry data, nearly 190,000 properties in England and Wales are owned by overseas buyers. Add in foreign companies, and the figure rises to at least 280,000. In London, around 2%of homes are foreign-owned, but in Westminster it’s 13%, and 11% in Kensington and Chelsea. For new builds, one in five go to non-residents – and many sit empty, a bitter pill in a city with a housing crisis.”

 

https://www.economicshelp.org/blog/217947/economics/britain-for-sale-who-is-really-buying-up-britain/

All the UK has to do is withdraw from the ECHR, change the law so parasite lawyers are reeled in and can't bog cases down indefinitely, deny application for residency/asylum (France is perfectly safe and no need to claim asylum arriving from any EU country) to all illegal arrivals, no benefits at all for irregular arrival, no extended families BS, any illegals that do come are to be housed far away from communities and cities (preferably on a God-forsaken wind-swept island off Scotland someplace), and instantly deport or detain until co-operative any criminals... can ban ludicrous lefty judges from making biased decisions and let elected politicians rule instead of the courts.

On top of that, sanction any country that refuses to take back their nationals or from a local close-by country where these people left from to arrive, plus also deny visas to the UK for their citizens or officials. Would soon see some change if all these rotten leaders and government officials all suddenly couldn't holiday in London at their properties or go shopping whenever they want.

Legal immigration is fine for those who are skilled, have something to offer, pay tax and contribute, and don't commit crime... rather like many of us do here, myself included... but the other type of illegal immigration will finish off not just the UK, but the EU too (who are slowly starting to see the writing is on the wall and taking appropriate action, like Denmark and Poland etc.).

Ta-da, financial problems fixed.

Hope I didn't freak out the bleeding-heart bridage with some sense regarding what almost everywhere else in the world does on this.