The Government has today confirmed that Chancellor of the Exchequer Rachel Reeves will deliver the UK Budget on Wednesday 26th November 2025. For wealth managers and discretionary fund managers, the announcement marks the beginning of a crucial countdown to what is expected to be a highly consequential fiscal event.
Tax rises expected as spending pressures mount
Reeves enters this Budget under intense scrutiny. Having pledged investment in infrastructure, housing and public services, she faces the difficult task of raising revenue while maintaining market confidence. Many analysts expect tax changes to feature prominently as the government works within what Reeves has described as “non-negotiable fiscal rules.”
In a video statement released this morning, the Chancellor acknowledged the challenges facing households and businesses alike:
“Britain’s economy isn’t broken. But I know it’s not working well enough for working people… Bills are high. Getting ahead feels tougher. You put more in, get less out. That has to change.”
Signals of reform and investment
Reeves highlighted recent policy moves including raising the minimum wage, reforming planning to enable housebuilding, and securing major trade agreements. But she stressed that the government must now focus on the next phase: lowering inflation and borrowing costs while pursuing growth.
“It’s only by doing this,” she said, “that we can afford to do the things we want to do.”
With tax policy firmly in the spotlight, wealth managers and DFMs will be assessing potential changes across capital gains, property, inheritance, pensions and investment taxation. The Budget could reshape the environment for portfolio construction, wealth planning and client advice and it is likely to be one of the most significant fiscal events in many years.
Reeves closed her message by pointing to the government’s broader ambitions:
“More pounds in your pocket. An NHS there when you need it. Opportunity for all. Those are my priorities. The priorities of the British people. And it is what I am determined to deliver.”
