Savers will have to wait as long as 48 years to build a £1m cash ISA pot if allowance is cut

Chancellor Rachel Reeves is set to announce a budget aimed at addressing the UK's cost of living crisis, a pivotal moment for the Labour government led by Keir Starmer. The budget, scheduled for November 26, is expected to include significant tax increases to cover a £20 billion spending gap and to stabilize the economy amidst lower growth forecasts.

UK Chancellor of the Exchequer Rachel Reeves is set to unveil her second budget on November 26, 2025, after a period of preparation that has included consultations with both bond-market investors and Labour Party backbenchers. This budget is anticipated to address pressing economic challenges, including a potential downgrade in growth forecasts for the next five years due to previous government policies.

Chancellor Rachel Reeves is preparing for a crucial budget announcement amid deep unpopularity and concerns from Labour MPs. The upcoming budget, scheduled for November 26, is seen as a pivotal moment for Reeves, who faces pressure to address fiscal challenges while maintaining party support.

Chancellor Rachel Reeves is set to unveil her second Autumn Budget on November 26, 2025, amid significant scrutiny and anticipation regarding potential tax hikes and spending cuts. This budget follows extensive consultations with bond-market investors and Labour Party members, reflecting the government's efforts to address pressing economic challenges.

Chancellor Rachel Reeves plans to reduce the annual cash ISA limit from £20,000 to £12,000, a move that has raised concerns among finance leaders about its potential impact on mortgage rates and consumer saving behavior. Building societies warn that such a significant cut could deter individuals from saving, undermining the purpose of these tax-efficient accounts.

Five of the top ten paying instant access cash ISAs have dropped in rankings following the expiration of their headline bonus rates, prompting a warning for savers to reassess their cash ISAs. This decline highlights the importance of monitoring interest rates and terms associated with these accounts to avoid suboptimal returns.

Chancellor Rachel Reeves is preparing to unveil her second Autumn Budget on November 26, 2025, amidst significant public and political scrutiny regarding potential tax hikes and spending cuts. This budget follows extensive consultations with bond-market investors and Labour Party members, reflecting a response to the ongoing economic challenges facing the UK.

Rachel Reeves, the UK's chancellor, is preparing to announce a budget that is expected to include significant tax and spending measures, amid her challenging tenure marked by low popularity and economic scrutiny. This budget is seen as a critical test for her leadership as it comes at a time of heightened economic uncertainty and declining consumer sentiment.