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Drivers Warned of 'Dreaded' Change in Autumn Budget as Labour Break Silence
Chancellor Rachel Reeves aims to close a £22 billion funding gap by ending the fuel duty freeze and reforming pension tax relief, potentially raising £15 billion.
- Later this month, Chancellor Rachel Reeves will deliver the Autumn Budget on 26 November, expected to end the 15-year fuel duty freeze, altering petrol and diesel taxation for drivers in the United Kingdom.
- The Institute for Fiscal Studies found the government faces a £22 billion funding gap, prompting Treasury insiders to explore removing employer National Insurance exemptions that could raise £17 billion.
- Analysts suggest a flat-rate of around 30% for pension relief could generate £15 billion, while the 25% tax-free lump sum capped at £268,275 and the pension lifetime allowance are also under discussion.
- A poll cited by MPs found three out of four UK road users who voted Labour want fuel duty frozen or reduced, while removing employer National Insurance exemptions could raise £17 billion but reduce salary sacrifice incentives.
- Introducing a price-per-mile scheme would mark a significant policy shift, Sheena McGuinness warned the Chancellor may need an additional 2.7 billion and an alternative fuel duty for EVs, with consultation and phased implementation likely.
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Drivers warned of 'dreaded' change in Autumn budget as Labour break silence
The Labour Party government has broken its silence over a dreaded change coming for drivers in the Autumn Budget. Rachel Reeves, the Chancellor, could change fuel duty from November 26, it has long been speculated.
·Newcastle upon Tyne, United Kingdom
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FTSE 100 on the Brink: Autumn Budget Might Halt Its Record-Breaking Run
The UK's blue-chip index, the FTSE 100, has had an exceptional start to 2025, but all eyes are now on the Autumn Budget , set to be announced by Chancellor Rachel Reeves on 26 November. Many analysts believe the Budget could include significant tax hikes and policy shifts that might derail the index's momentum.A Record-Breaking Year for the FTSE 100As of 31 October, the FTSE 100 closed at 9,787 points — a new record high. The index, comprising t…
·United Kingdom
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Total News Sources15
Leaning Left0Leaning Right1Center9Last UpdatedBias Distribution90% Center
Bias Distribution
- 90% of the sources are Center
90% Center
C 90%
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