Chancellor of the Exchequer Rachel Reeves presented the UK Budget on November 26, 2025. This statement included significant tax increases that are projected to generate £26.1 billion (approximately €29.8 billion) annually by the fiscal year 2029/30.
Key Highlights of the Budget
The budget announcement introduced several measures affecting various sectors. Key aspects include:
- Increased taxes targeting homes, gambling, and investments.
- Projected annual tax revenue increase of £26.1 billion by 2029/30.
- Unveiling of these details by the Office for Budget Responsibility (OBR) prior to the official statement.
Unexpected Early Release of Information
On the day of the budget statement, the OBR published its fiscal outlook on its website by mistake. This early release was later acknowledged as a “technical error” by the organization.
Conclusion
The budget’s tax increases are expected to significantly impact the UK economy. Stakeholders in homes, gambling, and investment sectors should prepare for the changes ahead.