Chancellor Reeves Sets November 26 UK Autumn Budget Date

Chancellor Rachel Reeves is expected to announce the 2025 UK Autumn Budget on November 26, amid escalating financial market turmoil and soaring government borrowing costs reaching 27-year highs. The budget aims to address a substantial fiscal black hole, estimated between £40 billion and £50 billion, through proposed tax hikes and tighter spending across Whitehall, despite growing concern from bond markets and opposition parties about Labour's fiscal credibility. Market reactions have been negative, with gilt yields hitting historic levels and the pound sharply declining, reflecting investor skepticism about the government's fiscal strategy and the potential impact of new taxes on economic growth. The government is under pressure to stabilize the economy, improve productivity, and reduce inflation, while also facing criticism for recent unpopular spending cuts and a challenging migration crisis. Opposition figures have condemned the anticipated tax increases as a burden on working families, warning of economic hardship ahead of the festive season. The Treasury's late budget timing and ongoing policy discussions reflect attempts to manage economic uncertainty and market confidence ahead of the fiscal announcement.