Rachel Reeves Sets November 26 for Autumn Budget Amid Economic Challenges

Rachel Reeves Sets November 26 for Autumn Budget Amid Economic Challenges

Chancellor Rachel Reeves confirmed the autumn budget will be presented on November 26, 2025, giving the Office for Budget Responsibility 12 weeks’ notice to prepare an independent fiscal forecast.
Facing a £30 billion deficit, Reeves delayed the budget to finalize growth measures, acknowledging the economy “isn’t working well enough for working people.” She emphasized controlling inflation and borrowing costs through strict fiscal rules, with investment and reform as key tools.
Britain’s borrowing costs have hit a 27-year high at 5.72% for 30-year debt, driven by persistent inflation and reduced pension scheme demand.
Economist Mohamed El-Erian warned of a “doom loop” of rising interest rates and declining growth unless Reeves convinces markets of fiscal discipline and a robust growth plan.
The budget follows a controversial 2024 budget with £40 billion in tax rises, including on employers’ national insurance.
Reeves’ announcement comes amid political turmoil, including Angela Rayner’s resignation and Nigel Farage’s criticisms, adding pressure to deliver a plan that stabilizes the economy and restores public confidence.

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