Business

Rachel Reeves is facing fresh criticism from senior business leaders after John Roberts, chief executive of online electricals retailer AO World, described her Budget as “tone deaf” and “a bit pathetic”, accusing the Chancellor of lacking any real understanding of business or entrepreneurship.

Speaking to Times Radio, Roberts said he was left “pretty speechless” by Reeves’ comments about the importance of supporting entrepreneurs.

“She has absolutely no appreciation of business and doesn’t seem interested in finding any,” he said. “All the rhetoric that I hear is to demonise those that succeed. The wealth creators need to keep paying so she can fritter it away on welfare.”

Roberts added that the only meaningful reform he noticed was the decision to remove premium cars from the Motability scheme. “So for me, from a business perspective, it was tone deaf and a bit pathetic.”

His remarks reflect growing frustration among some business leaders who believe the Budget prioritised welfare expansion and tax rises over growth, investment and private-sector confidence.

Reeves refuses to rule out further tax rises next year

The Chancellor has also triggered fresh alarm among businesses after declining to rule out further major tax increases in 2026.

Asked on LBC whether she could reassure voters — as she did after the 2024 Autumn Budget — that no further large tax rises were planned, Reeves said: “No chancellor can predict the future or write next year’s budget. Chancellors, governments have to respond to events.”

Reeves said she had doubled her fiscal headroom to £22 billion, providing a buffer against future shocks, but warned: “I’m sure these will continue to come our way.”

The Chancellor repeated the same line on BBC Radio 4’s Today programme, indicating that the refusal was intentional. “I’m not going to write future budgets,” she said.

Her comments are likely to intensify concerns among entrepreneurs, investors and business owners — many of whom are already unsettled by £30 billion in new tax rises announced this week.

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Budget ‘tone deaf’ and ‘a bit pathetic’, says AO World boss as Reeves refuses to rule out further tax rises

The head of William Hill’s parent company has warned that thousands of UK jobs are now at risk, after the Chancellor announced a sharp rise in gambling taxes that will almost double the levy paid on online gaming.

Shares in Evoke, which owns William Hill, fell by up to 8% to a record low following Rachel Reeves’s decision to increase the online gaming duty from 21% to 40%, in one of the steepest tax hikes of the Budget. At the same time, the levy on online sports betting will rise from 15% to 25%, while the rate for betting shops remains unchanged at 15%.

Per Widerström, chief executive of Evoke, said the company would have no choice but to make deep cuts to investment and staffing in its UK operations, which include around 1,300 high-street betting shops.

“We will begin immediately on executing our mitigation plans, which involve a significant reduction in investment into the UK,” he said. “And, very regrettably, the likely need for thousands of jobs to be cut up and down the country.”

The warning reflects growing alarm across the gambling industry, where operators say the scale of the tax increase threatens profitability, investment and the viability of large segments of the market.

Evoke had already faced pressure from higher regulatory costs and reduced consumer spending, but the Chancellor’s move — designed to raise billions in additional revenue — has intensified concerns about job security across retail betting and online gaming divisions.

Analysts said other operators may now follow Evoke in slashing UK expenditure or shifting future investment overseas, particularly as the online gaming sector accounts for a large share of total industry tax receipts.

The Treasury has defended the tax rise as a move to ensure “fairer contribution” from digital betting platforms, but industry leaders argue the sudden jump risks accelerating shop closures and job losses across the UK’s high streets.

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Betting chief warns thousands of UK jobs at risk as online gaming tax doubles

Technology has revolutionized plenty of industries, and finance is no exception. Digital transformation has changed how we manage money, invest, and handle financial transactions.

Today, financial services are faster, more accessible, and increasingly automated. From mobile banking to blockchain and AI-driven financial advice, technology has made it easier for individuals and businesses to manage and grow their finances. As financial technology continues to evolve, it is crucial to understand its impact on the industry and how it benefits both consumers and professionals.

The Rise of Digital Banking

Traditional banking has faced significant competition from digital banks, which offer many of the same services without the overhead costs of brick-and-mortar branches. Digital banks use technology to streamline processes, reduce operational costs, and enhance the customer experience. Online-only banks offer high-interest savings accounts, easy-to-use mobile apps, and no-fee services that attract a growing number of customers.

For example, mobile banking apps allow users to check balances, transfer funds, and pay bills at the touch of a button. These apps have replaced the need for physical bank visits, making banking more convenient. With the widespread use of smartphones, more people can access their finances anytime and anywhere. As a result, digital banking is expected to grow significantly in the coming years.

Understanding What Digital Currencies Represent

Digital currencies function through decentralized systems that use blockchain technology to record transactions. This structure increases transparency and reduces the need for intermediaries. Each asset serves a different purpose. Some focus on fast transactions, while others support complex applications or store value long-term.

Investors often begin with established digital assets because they offer longer histories and clearer development paths. Studying the utility behind a currency builds confidence. Currencies with strong use cases tend to show stability because demand grows as adoption increases.

Investors read market analyses to understand potential movement. Predictions by analysts vary widely, and each relies on different factors. That variety creates confusion for new investors. Learning how analysts form projections helps you avoid emotional reactions. People search for guidance and encounter discussions that include topics like XRP prediction in broader market reviews. These predictions play a limited role in decision-making, and strong research strengthens your position as an investor. Staying focused on long-term fundamentals supports smarter choices.

Blockchain and Cryptocurrency Are Disrupting Traditional Finance

One of the most revolutionary technologies in finance today is blockchain. Blockchain is a decentralized ledger system that records transactions across multiple computers in a way that prevents tampering or alteration. This technology underpins cryptocurrencies like Bitcoin and Ethereum, but its potential extends far beyond digital currencies.

Blockchain enables faster, cheaper, and more secure transactions. Unlike traditional bank transactions that can take days to process, blockchain transactions can be completed in minutes or even seconds. And, blockchain eliminates the need for intermediaries like banks, making cross-border transactions cheaper and more efficient.

Blockchain has also paved the way for decentralized finance (DeFi), a rapidly growing sector that offers traditional financial services like lending, borrowing, and trading through blockchain-based platforms. With DeFi, individuals can access financial services without relying on traditional banks, which opens up new opportunities for people in underbanked regions.

While cryptocurrencies and DeFi have received much attention, blockchain technology has the potential to transform other areas of finance, such as supply chain management, insurance, and real estate. As more businesses adopt blockchain, its impact on traditional financial systems will continue to grow.

AI and Machine Learning in Financial Decision-Making

Artificial intelligence (AI) and machine learning (ML) are increasingly being used in finance to enhance decision-making and improve risk management. AI algorithms analyze vast amounts of data to identify patterns and trends that human analysts may miss. These insights help financial institutions make better predictions and decisions.

In investment management, AI-powered tools are used to analyze market trends, identify investment opportunities, and optimize portfolios. Machine learning algorithms can process and analyze historical data to predict future market movements, helping investors make informed decisions. Robo-advisors, which use AI to provide automated investment advice, are becoming more popular, allowing individuals to access professional investment strategies at a lower cost.

In the lending industry, AI is used to assess creditworthiness and detect fraudulent activity. By analyzing a borrower’s financial history, spending habits, and other data points, AI can generate a more accurate risk profile than traditional credit scoring models. This helps lenders make better lending decisions and reduces the risk of default.

AI is also being used in customer service. Chatbots and virtual assistants are increasingly common in financial institutions, helping customers with everything from account inquiries to transaction processing. These AI-driven solutions improve efficiency and provide 24/7 support, enhancing the overall customer experience.

Technology is transforming the financial landscape in profound ways. From digital banking and blockchain to AI-powered investment tools and digital payments, technology is making financial services more accessible, efficient, and secure. As new trends and innovations continue to emerge, understanding their impact will help businesses and individuals make informed decisions and prepare for the future. The rise of digital currencies, such as XRP, is just one example of how technology is reshaping the financial world, offering new opportunities and challenges. As we continue to embrace these advancements, the future of finance looks promising and full of potential.

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How Technology Is Transforming Finance

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A corruption tollgate for European companies: why the Ukrainian National Police has once again seized Fedoricsev’s assets

Securing family-friendly World Cup tickets has become an increasingly demanding task as global demand accelerates and trusted platforms evolve their offerings.

As dedicated observers of the market, we understand how crucial it is for families to depend on transparent pricing, verified sellers, and seating options designed for a safe, comfortable stadium experience. Our objective is to provide an authoritative guide that helps readers navigate trustworthy ticket sources while ensuring that their journey to the tournament starts with clarity and confidence.

The Growing Need for Reliable World Cup Ticket Platforms

The unprecedented worldwide appeal of the tournament pushes legitimate sellers to uphold higher standards of reliability. Families travelling together require certainty not only about seating but also about entry conditions, delivery methods, and customer protection policies. When exploring the most dependable marketplaces, it becomes clear that professional platforms with robust verification systems provide a more secure buying environment and significantly reduce the risk of fraudulent listings or misleading offers.

Why Trusted Marketplaces Offer Greater Peace of Mind

Over the past years, reputable ticket platforms have adopted meticulous verification measures to safeguard buyers. These systems ensure that each listing originates from an authenticated seller, allowing families to avoid last-minute cancellations or unreliable transfers. Transparent seat-map integration, detailed match-day information, and comprehensive customer support departments enhance the experience further, reinforcing the feeling of safety that families seek when planning international sporting trips.

In this context, it becomes essential to evaluate platforms based on accuracy, accountability, and customer guarantees. The ability to resolve unexpected issues promptly often distinguishes trustworthy sellers from generic marketplaces. We consistently observe that established ticket providers adapt to the complexities of major tournaments, offering structured policies that reflect years of industry expertise.

Evaluating the Platforms That Prioritise Family-Oriented Experiences

Families require more than just a seat inside the stadium—they need visibility, comfort, and a seamless digital process that starts at the point of purchase. The best platforms understand this and design their systems to ensure that buyers receive precise seat information before completing an order. Such clarity reduces pre-match stress and facilitates planning around stadium logistics, accessibility points, and child-friendly areas.

When discussing dedicated ticket providers, it is beneficial to reference expert guides that help buyers navigate reputable sources. For instance, thorough analyses like the one found when users compare SeatPick, Hellotickets and other renowned tickets places to find reliable family-friendly World Cup tickets. offer an informed breakdown of dependable options and highlight the features families should prioritise when selecting their seats.

Understanding What Sets Reputable Sellers Apart

Long-standing platforms invest in technology that filters, tracks, and authenticates every ticket, thereby reducing uncertainty for families. Dynamic seat-selection tools, secure payment gateways, and real-time availability indicators play a major role in shaping a safe transaction. Moreover, the option to select multiple adjacent seats provides an advantage for families, ensuring everyone remains together throughout the match.

Another significant factor is the quality of customer care. Providers that maintain multilingual support teams, swift response times, and strong refund policies offer more predictable outcomes in case of scheduling changes or unforeseen disruptions. This level of service helps families stay informed from the initial purchase to the moment they enter the stadium.

Ensuring a Smooth Experience From Purchase to Match Day

A successful World Cup experience begins long before the whistle blows. Reliable platforms guide families through every stage, from reviewing seating categories to verifying e-ticket delivery windows. By choosing marketplaces with consistent performance records, travellers avoid unnecessary stress during airport transfers, hotel check-ins, and stadium entry protocols. Confidence at each step allows families to focus on what truly matters: sharing the excitement of the world’s most celebrated football event.

Final Reflection on Choosing Trusted Ticket Sources

For families investing in a once-in-a-lifetime tournament experience, the assurance of purchasing through reputable sellers is invaluable. By prioritising platforms that offer verified listings, transparent policies, and supportive customer service, families gain a dependable foundation for planning their trip. In a market filled with uncertainty, selecting established and trusted ticket providers ensures that their World Cup journey begins with confidence, clarity, and the promise of unforgettable memories.

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Trusted Choices for Securing Family-Friendly World Cup Seats

A major VAT reform unveiled in the Budget is expected to unlock millions of pounds’ worth of surplus goods for charity and significantly reduce the volume of usable products sent to landfill.

From 1 April 2026, businesses will be able to donate goods to registered charities without incurring a VAT charge, removing a long-criticised tax barrier that has deterred companies from giving away unsold, returned or surplus items.

Under current rules, gifting goods — even to a charity — can trigger VAT on a “deemed supply” basis, meaning many firms choose to destroy stock rather than shoulder a tax liability. The government says the new relief will eliminate that cost entirely for donations made to HMRC-registered charities.

The decision follows a comprehensive consultation that drew strong support from charities, retailers, manufacturers and waste-reduction bodies. The Treasury said respondents “universally” highlighted the existing VAT charge as a key factor behind unnecessary waste.

HMRC explored extending the relief to social enterprises and unregistered community groups, but ultimately restricted eligibility to registered charities because of their governance and reporting requirements, helping to minimise fraud risk. Importantly, the relief will be open to charities of all types, not just those involved in poverty alleviation.

The scheme will use a simple two-tier valuation system:
• A £100 per-item limit for most donated goods.
• A £200 per-item limit for essential items including white goods, furniture, computers, phones and tablets — targeting support for households experiencing digital or material poverty.

Goods subject to excise duty, such as alcohol and tobacco, are excluded.

The relief covers donations used directly in charitable activities — for example, hygiene products supplied to a shelter — as well as goods redistributed to individuals and families in need.

To keep administration light, valuation will default to cost price, with businesses allowed to apply a lower figure for older or depreciated stock. Documentation requirements are minimal: proof of delivery to a qualifying charity and a simple certification confirming charitable use. Charities will not be faced with new compliance burdens, as record-keeping responsibilities sit entirely with the donating business.

HMRC will publish full technical guidance ahead of the 2026 launch, but the Treasury believes the policy could release a significant volume of items that currently end up discarded, supporting the circular economy, easing pressure on landfill, and strengthening UK charities’ supply of essential goods.

Greg McNally, founding partner of VAT consultancy VITA, welcomed the change, calling it “a long-overdue correction to a flawed system” that will help businesses reduce waste while supporting grassroots organisations across the country.

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Budget’s new VAT relief set to boost business donations and cut landfill waste

Chancellor Rachel Reeves has delivered a bruising second Budget, confirming more than £30 billion in tax rises and abandoning earlier assurances that “working people” would be shielded from higher taxes.

Instead, she told MPs she was asking “everyone to contribute”, with most households now set to be worse off and middle-income families bearing the brunt.

While welfare payments, pensions and minimum wages will rise, a broad package of tax increases — combined with frozen thresholds — means millions will see their disposable income fall further. Business owners have criticised the plans, with some dubbing it a “Budget for benefits”.

If you want to see how the budget affects you use your Budget calculator produced in partnership with accountants Blick Rothenberg – Click Here 

Below, a breakdown of how different groups will be affected.

Who loses out

Workers using salary sacrifice

One of the most significant changes is the cap on National Insurance relief for salary-sacrificed pension contributions. From April 2029, only the first £2,000 of annual contributions will be exempt — a sharp shift from the current unlimited allowance.

For someone earning £50,000 and contributing 5%, this equates to an estimated £75 a year in additional tax; for a £100,000 earner, around £450. Employers, who also lose NI relief, face even greater costs and may respond by lowering their own pension contributions.

Pension specialists warn of long-term consequences. Hargreaves Lansdown calculates that a 22-year-old earning £25,000 could retire with £57,000 less if employer contributions stagnate as a result of the change.

Earners hit by frozen thresholds

Reeves has extended the freeze on income tax thresholds until 2031, pulling more workers into higher tax bands as wages rise. This also drags more estates into inheritance tax and more gains into capital gains tax.

According to analysis, a worker on £50,000 this year will pay £8,165 more in tax between 2020 and 2031 due to the frozen bands.

Owners of high-value property

Homes in England worth over £2 million will face a new surcharge of between £2,500 and £7,500 a year. The charge, uprated annually with inflation, affects around 100,000 homeowners but is expected to have wider effects.

To administer the levy, the Chancellor is ordering a revaluation of Bands F–H, raising concerns that many homes last valued in 1991 will be pushed into higher council tax bands. Property analysts warn it may destabilise a market already under pressure while the government attempts to build 1.5 million new homes.

Drinkers, smokers and gamblers

Alcohol duties will rise in February in line with the RPI measure of inflation — adding 13p to a bottle of wine, 11p to Prosecco and 38p to gin. Tobacco duty will rise above inflation, and a new vape duty remains scheduled.

The gambling sector faces one of the steepest hits. Tax on online gaming profits rises from 21% to 40%, and online betting duty jumps from 15% to 25%, though bingo duty is abolished.

Savers and investors

The cash ISA allowance will be capped at £12,000 for under-65s from April 2027, with £8,000 of the £20,000 allowance ring-fenced for investments. The Chancellor has also raised tax on dividends, savings income and property income by two percentage points, saying it is “not fair” for investment income to attract lower rates than earnings.

Industry leaders called the ISA change a blow to financial confidence at a time when households are trying to build savings buffers.

Motorists — especially EV drivers

Electric vehicle owners will face a new 3p-per-mile road charge from 2028 to replace lost fuel-duty revenue.

Meanwhile, petrol and diesel drivers gain a temporary reprieve: the 5p fuel duty cut is extended until September 2026, before being phased out gradually.

Holidaymakers

Mayors in England will be given powers to introduce a tourist tax on overnight stays. The levy is expected to be around £1 per night, though councils will have flexibility over the final design.

Who gains

Large low-income families

Reeves has scrapped the two-child benefit cap, handing substantial increases to larger low-income families. The OBR estimates 560,000 families will benefit, with around 18,000 households gaining more than £14,000 per year.

Universal Credit, PIP, child benefit and other working-age benefits will rise by 3.8% in April. Free school meals will expand to all households on Universal Credit in 2026, and the Help to Save scheme will become permanent.

Low-paid workers

The National Living Wage rises to £12.72 an hour, delivering an annual boost of around £700 for a full-time employee. The rise forms part of a longer-term plan to introduce a single adult wage rate from age 18.

Train passengers

Regulated rail fares have been frozen for 2025, the first across-the-board freeze since 1996. Labour claims that commuters on certain routes will save more than £300 a year.

State pensioners

The state pension rises by 4.8% under the triple lock, adding £550 a year to the full new state pension. Some retirees under the old scheme will gain £440. However, further increases could push pensioners paying no tax today over the £12,570 personal allowance, creating new tax liabilities.

Households facing high energy bills

Reeves says an average household will save £150 a year after she scrapped a Conservative-era eco levy she claims added £1.7 billion annually to bills.

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Reeves unveils £30bn tax rise as Budget leaves millions worse off and middle earners hit hardest

Experts are warning that Rachel Reeves’ decision to cap the National Insurance advantages of pension salary sacrifice at £2,000 a year risks dismantling one of the UK’s most widely used workplace savings tools, and may force smaller employers to freeze hiring or scale back staff benefits.

The Treasury expects the change to raise £4.7 billion in 2029/30, rising from workers and employers who currently benefit from unlimited NI relief when pension contributions are made via salary sacrifice. But financial planners, accountants and HR specialists say the policy could have far-reaching consequences for retirement savings, recruitment and business investment.

Anita Wright, chartered financial planner at Ribble Wealth Management, described the move as a clear revenue-raising measure dressed up as reform.

“The so-called ‘pension salary sacrifice raid’ limits NI advantages workers and employers have legitimately enjoyed for years,” she said. “A £4.7bn yield tells you how widely relied upon the system is.”

Simon Thomas, managing director at Ridgefield Consulting, said the cap undermines a tool that has been particularly valuable for fast-growing companies.

“Salary sacrifice has been a legitimate and effective way to boost retirement savings while helping employers reward staff tax-efficiently,” he said. “For many scale-ups and start-ups that cannot compete on headline salaries, enhanced pension contributions form a crucial part of how they attract and retain talent.

“The £2,000 cap reduces the tax efficiency so significantly that many businesses may scrap the schemes entirely. Combined with higher employer NI from last year, this places pressure on margins and curbs their ability to recruit competitively.”

Smaller employers say the change adds yet another cost at a time of rising wages, business rates and energy bills.
Kate Underwood, founder of Kate Underwood HR & Training, said the move will stall recruitment: “Salary sacrifice was one of the only ways to keep the numbers vaguely sensible. Now employers will pay more NI on anything above the cap. Most small businesses won’t start sacking people because of this alone — but they will slow hiring, delay replacing leavers and cut perks.

It makes attracting experienced candidates harder because you’ve just lost one of the few tools available to build a competitive package.”

Consumers saving for retirement also face higher costs.

Philly Ponniah, chartered wealth manager at Philly Financial, said many workers depend on sacrifice to manage their finances.
“Capping sacrifice at £2,000 is a big shift. It’s raising billions precisely because so many rely on the system. Removing relief after that point means higher NI for workers and employers — effectively a cut to take-home pay at a time when budgets are already stretched.

It won’t stop pension saving, but it makes it more expensive, especially for middle earners. Long-term, it weakens one of the few tools that supports consistent saving.”

David Stirling, independent financial adviser at Mint Wealth in Belfast, warned that the long-term impact on pension pots could be severe.

“This may look clever on paper to the Chancellor, but in practice higher earners lose the biggest perk of pension planning, employers may scale back contributions, and long-term pots could shrink by tens of thousands.
All in the name of ‘fairness’, savers now face a bureaucratic minefield while the Treasury pockets billions in extra NI.”

Across the board, experts agree the policy represents not just a tax rise, but a structural shift — one that risks depressing savings rates, increasing workforce stagnation and piling further financial pressure on businesses already grappling with rising costs and weak demand.

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£4.7bn ‘salary sacrifice raid’ could see pension benefit scrapped by thousands of employers, experts warn

Chancellor Rachel Reeves has delivered her second Budget, unveiling a wide-ranging package of tax, spending and regulatory measures shaped by weeks of leaks — and an accidental early publication of the OBR’s official forecasts.

Here is a comprehensive overview of the main changes affecting households, businesses and the wider economy.

Personal taxation

Reeves confirmed that income tax and National Insurance thresholds will be frozen until 2031, extending the existing freeze by an additional three years. The move will gradually pull more earners into higher tax bands as wages rise.

The annual cash ISA allowance for under-65s will be capped at £12,000, with the remaining portion of the £20,000 limit available only for investment ISAs. Dividend tax rates will rise by two percentage points from April, while all tax rates on savings income will increase from 2027.

Wages, benefits and pensions

Reeves announced that the controversial two-child benefit cap will be scrapped from April, allowing families on Universal Credit and tax credits to receive payments for all children.

The National Living Wage will rise by 4.1% to £12.71 for over-21s. Rates for 18–20-year-olds will jump 8.5% to £10.85, part of a longer-term plan for a single adult wage rate.

State pensions will increase by 4.8% in April under the triple lock, outpacing current inflation. Meanwhile, from 2029, the amount employees can contribute via salary sacrifice without paying National Insurance will be capped at £2,000 a year. The Help to Save scheme for low-income households will be extended beyond 2027.

Housing and property

Properties in England valued at over £2 million will face a new council tax surcharge of £2,500 to £7,500, following a revaluation focusing on bands F, G and H. Taxation on rental income will rise by 2 percentage points from April 2027.

Transport

The temporary 5p fuel duty cut will be extended yet again, running until September 2026 before phasing out over six months.

A new mileage-based tax for electric and plug-in hybrid vehicles will be introduced from 2028, marking the first major restructuring of motoring taxes in the EV era.

Regulated rail fares in England will be frozen next year, the first such freeze since 1996. Premium cars will be excluded from the Motability scheme.

Business taxes

The £135 tax exemption on small imports from overseas retailers will be scrapped from 2029 to address concerns about unfair competition for UK businesses.

A major overhaul of gambling taxation will see the tax on profits from online bets rise from 21% to 40%. The longstanding 10% bingo tax will be abolished.

Drinking and smoking

The sugary drinks levy will be expanded from 2028 to include pre-packaged milkshakes and lattes, reversing exemptions granted in 2018.

Taxes on tobacco will rise by 2% above RPI, while alcohol duty — including on draught drinks — will also increase in line with the higher RPI measure in February.

The economic outlook

The OBR now expects UK GDP to grow 1.5% in 2025, an upgrade from its 1% forecast in March. However, growth between 2026 and 2029 is forecast to average just 1.5%, down from earlier expectations of 1.8%.

Inflation is predicted to average 3.5% this year, falling to 2.5% next year and returning to the 2% target in 2027.

Other measures

English regional mayors will gain new devolved powers to tax overnight hotel stays, mirroring existing or planned powers in Scotland and Wales.

Finally, the cost of a single NHS prescription will remain frozen at £9.90 for another year in England.script for broadcast, I can produce that too.

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Budget 2025: Key announcements at a glance

Chancellor Rachel Reeves is facing mounting calls to resign from frustrated business owners after a series of leaks ahead of this week’s Budget – drawing comparisons with Labour Chancellor Hugh Dalton, who quit in 1947 after briefing a journalist moments before delivering his statement.

The criticism intensified after the Office for Budget Responsibility accidentally published its full economic forecast online hours before Reeves’ speech. The OBR has apologised, but the premature release revealed that GDP growth is expected to reach 1.5%, lower than previously projected, and confirmed plans to freeze income tax thresholds until 2030/31, introduce a new annual tax on properties over £2m from 2028, and raise £26bn in taxes by 2029–30.

Business figures say the string of leaks , deliberate or otherwise , has shattered market confidence.

Riz Malik, director of R3 Wealth in Southend-on-Sea, described the situation as farcical.
“This Budget has had more leaks than the Titanic,” he said. “We elect officials to lead, not test every idea on the public like a focus group. At this rate we’ll be voting on economic policy during Strictly.”

Sam Alsop-Hall, chief strategy officer at Clive Henry Group, said the leaks were destabilising markets.
“Only in Britain can a whisper from Rachel Reeves move gilts harder than a Trump press conference moves crypto,” he said. “It’s less ‘Budget strategy’ and more ‘live-action stress test’. Someone take the red box off her before the pound needs counselling.”

Colette Mason, author and AI consultant at Clever Clogs AI, said the repeated mishaps point to deeper institutional failings.

“These aren’t accidental slips. They’re incompetence or manipulation — neither builds the credibility a Chancellor needs when markets are already jittery,” she said. “The 1947 standard was about protecting trust in the process. We need that standard back.”

Some business owners said Reeves should resign — but warned doing so could spark an even deeper economic crisis.

Tony Redondo, founder of Cosmos Currency Exchange, said confidence in Reeves had evaporated, but argued replacing her could trigger further turmoil.
“She is the worst Chancellor in 50 years,” he said. “But if she resigns, the bond vigilantes will smell blood, and the UK could face a shock worse than the Truss 2022 meltdown.”

Others argued the government is repeating last year’s mistakes.
Rob Mansfield, of Rootes Wealth Management, said: “If the government want growth, they need to present confidence and competency. Neither are evident.”

Michelle Lawson, director at Lawson Financial, called the leaks “poor politics”.
“Speculation causes uncertainty. Some of this feels like staged drama so they can later tell us how good they’ve been by not enacting some leaks.”

Daniel Wiltshire, actuary and IFA at Wiltshire Wealth, said the debacle is damaging already-fragile business sentiment.
“What on earth are they playing at? Business confidence is shot as it is. This is starting to make the 2012 omnishambles look like a masterclass in statecraft.”

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Business leaders urge Reeves to resign ‘like Hugh Dalton’ after Budget leaks: ‘More leaks than the Titanic’