Absolute madness.
Despite claims of tackling cost of living pressures, the Government is pursuing a policy that the @OBR_UK has made clear will drive up rents.
Almost one million new homes to rent are needed by 2031. But this Budget will clobber #tenants with higher costs while doing nothing to improve access to the homes people need.
#Budget2026
https://t.co/hcWpnoYJN9
Gambling taxes are changing: Remote Gaming Duty rises from 21% to 40%, online betting duty from 15% to 25%. Bingo Duty will be abolished from April 2026. In-person gambling and horse racing remain unchanged. Expected to raise £1bn+ per year by 2031. #autumnbudget
Universal Cr:The controversial two-child limit on Universal Credit, long criticised by campaigners, is set to be removed.According to the OBR,the change will cost around £3 billion by 2029–30 but will inc benefits for 560,000 families by an average £5,310 each. #autumnbudget
Economic forecasts:The economy is now expected to grow by an average of 1.5% per year until the end of the decade, down 0.3 percentage points from March due to weaker-than-expected productivity. #autumnbudget#Budget2025
Corporation Tax:From April 2026, the main WDA rate will fall from 18% to 14%. Additionally, a new 40% first-year allowance for companies will be introduced from January 2026. The changes are expected to generate £1.5bn annually by 2029–30. #autumnbudget
The capital gains tax relief for company owners selling shares to employee ownership trusts is being cut from 100% to 50%, effective immediately. #autumnbudget#Budget2025
In practice, this means contributions over that threshold will attract both employer and employee NI 15% and 8% respectively on earnings below £50,270, and 2% for income above that level. The change is projected to raise £4.7bn in 2029–30 and £2.6bn in 2030–31.
Salary-sacrificed pension contributions above an annual £2,000 threshold will no longer be exempt from National Insurance from April 2029. #autumnbudget
EV: EV drivers are facing a new pay/mile tax from 2028-29, charging 3p per mile. It is in addition to other road taxes and cost the average driver £255 a year to begin with. #Budget2025#autumnbudget
Income tax: Freeze on Income Tax threshold will lead to an estimated 920,000 extra higher rate taxpayers, according to the Office for Budget Responsibility. #autumnbudget#Budget2025