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Biggest Winners and Losers From the Budget - How It Will Affect You
Labour chancellor Rachel Reeves announced tax rises affecting 1.7 million earners, a mansion tax surcharge, and pension changes to create £22bn fiscal headroom.
- On Wednesday, Labour chancellor Rachel Reeves revealed her second Budget in the House of Commons, introducing tax increases, spending cuts, and ending the controversial two‑child benefit cap.
- The OBR's forecast helped Reeves avoid some hard choices, leaving the government with £22bn of fiscal headroom, only 75% of the previous chancellors' average, as of last year.
- The Independent's Budget calculator with Blick Rothenberg shows around 1.7 million earners face higher taxes by 2029/30, alongside changes to salary‑sacrifice pension arrangements and the so‑called 'mansion tax' on high‑value homes.
- Overall, 560,000 families will gain an average of 5,310 in 2029-30, while poorer pensioners lose 220 and wealthier OAPs are 680 worse off, Reeves' measures show.
- Looking ahead, the Budget projects a tax take to reach 38 in 2030/31, with nearly three‑quarters of the �77bn extra tax coming after April 2029, according to Deutsche Bank.
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12 Articles
12 Articles
Biggest winners and losers from Rachel Reeves' Budget - how it affects you - The Mirror
Overnight analysis by the Resolution Foundation think-tank found that poorest families end up around £90 a year better off, but wealthy pensioners were the worst hit by Rachel Reeves' measures
·London, United Kingdom
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FTSE 100 Index outlook after Rachel Reeves tax increases: can it retest ATH?
The FTSE 100 Index rose by nearly 1% as UK bond yields plunged, as the market reacted to the latest budget reading by Rachel Reeves. The index, which tracks the biggest UK companies, rose for the second consecutive day, reaching a high of £9,690, its highest level since November 17. FTSE 100 ...
Coverage Details
Total News Sources12
Leaning Left3Leaning Right2Center3Last UpdatedBias Distribution38% Left, 37% Center
Bias Distribution
- 38% of the sources lean Left, 37% of the sources are Center
38% Left
L 38%
C 37%
R 25%
Factuality
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