Third of people affected by 'loan charge' could have debts wiped away

The UK government has announced that a salary sacrifice cap of £2,000 will be introduced in 2029, affecting the way basic rate taxpayers can manage their taxable income. This change is expected to impact only a small percentage of those currently utilizing salary sacrifice schemes, as 74% of basic rate taxpayers will remain unaffected.

The Chancellor has managed to avoid immediate backlash from bond vigilantes following the recent budget announcement, which aimed to restore confidence among lenders to the government. This budget was crucial in addressing the fiscal health of the nation amidst rising borrowing levels and economic uncertainty.

Chancellor Rachel Reeves has announced that salary-sacrificed pension contributions exceeding £2,000 will now incur national insurance charges, a move aimed at addressing fiscal challenges. This decision is part of a broader budget strategy set to be revealed on November 26, 2025, amidst ongoing discussions about the UK's economic stability.

The recent budget announcement in Britain has been characterized as historic for at least two reasons, marking a significant moment in the country's economic landscape. This budget comes amid rising concerns about the fiscal health of the government and is expected to include a variety of tax increases aimed at stabilizing public finances.

Chancellor Rachel Reeves has announced the introduction of a mansion tax on properties valued over £2 million as part of the UK budget aimed at addressing the ongoing cost of living crisis. This tax is expected to impact high-value homeowners significantly, contributing to the government's revenue stream.

Chancellor Rachel Reeves has announced a budget that includes £26 billion in tax increases, recognizing that this will require ordinary people to pay more. The budget aims to address the UK's ongoing cost of living crisis and extends the freeze on personal income thresholds.

Chancellor Rachel Reeves has unveiled the UK budget for 2025, which aims to tackle the ongoing cost of living crisis. The budget includes significant tax increases and welfare reforms, including the scrapping of the two-child benefit cap and the introduction of a mansion tax, amidst a backdrop of economic challenges and political pressure on the Labour government.

The Chancellor is set to announce a comprehensive budget today, which is expected to include a range of tax increases aimed at stabilizing public finances while fostering economic growth. This comes amid rising concerns about the UK's financial outlook and the need for fiscal adjustments.