Reeves Finally Faces Day of Reckoning on Her Long-Trailed Budget

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 Rachel Reeves is set to present a tax-heavy budget on November 26, 2025, which is expected to test the confidence of investors and the Labour Party. This budget follows consultations with bond-market investors and Labour backbenchers, highlighting the government's focus on fiscal responsibility amid economic challenges.

Volkswagen has announced the completion of a new R&D centre in Hebei, eastern China, enabling the company to develop new cars entirely outside Germany for the first time in its history. This move aims to strengthen its position in the world's largest auto market.

The UK is set to see an increase in minimum wage rates, benefiting approximately three and a half million low-paid workers across the country. This adjustment reflects ongoing efforts to improve the financial conditions of the workforce and address living costs.

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.

The UK government has faced criticism for conceding to the British Virgin Islands' request to restrict access to a company share ownership register, limiting it to individuals with a legitimate interest. This decision contradicts a 2008 UK law mandating broader access to the register. Discussions on this issue are set to take place between Foreign Office ministers and leaders of British overseas territories in London.

Chancellor Rachel Reeves is rumored to be planning a reduction in the cash ISA allowance in the upcoming Autumn Budget, which could significantly hinder savers' ability to accumulate a £1 million cash ISA pot, potentially extending the time required to reach this goal to as long as 48 years.

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.