Budget 2025 LIVE: See how you may fare in Rachel Reeves’ autumn spending plan
Rachel Reeves has promised today’s Budget will put more money in the pocket’s of the UK’s lowest-paid workers.
The Chancellor will unveil her economic plans in the Commons at around 12.30pm this afternoon as millions wait to hear how their finances could be impacted. Reeves is expected to raise money to plug a huge £20billion blackhole in public finances following 14 years of Tory austerity and economic shambles.
Despite months of speculation over potential tax hikes the Chancellor has said she will deliver a Budget that will help bring down the cost of living for families who have been struggling for years.
The Budget will be about ‘taking fair choices’, Starmer says
The Prime Minister has said the Budget will focus on the cost of living, NHS waiting times and cutting national debt, in a message to the nation ahead of Reeve’s speech in the Commons.
Today’s Budget is about taking fair choices.
It will focus on your priorities: cutting the cost of living, cutting waiting lists and cutting the national debt.
This Labour government will deliver strong foundations for our economy and secure our country’s future.
— Keir Starmer (@Keir_Starmer) November 26, 2025
2.7 million workers set to get a pay rise
The Chancellor, in a taster for today’s Budget, revealed she will raise the National Minimum Wage and the National Living Wage.
This major move could help millions of UK workers as rates are set to rise across the board, for people of all ages.
The National Minimum Wage is the lowest amount workers are entitled to, and this will rise 8.5% to £10.85 per hour. The National Living Wage, for those 21 and over, will jump 4.1% to £12.71 per hour.
People on apprenticeships, and those ages 16 and 17-year-olds, will also see a jump in their finances will increase by 6% to £8 per hour.
