2025 Autumn Budget predictions

 As Chancellor Rachel Reeves prepares to deliver the 2025 Autumn Budget on 26 November, the announcement represents a pivotal moment for businesses, investors and high-net-worth individuals navigating an evolving fiscal landscape.

Coming at a critical juncture for the UK economy - in the week of Black Friday and a month before Christmas - this Budget arrives against a backdrop of heightened regulatory complexity, inflationary pressures and fundamental questions about the balance between revenue generation and economic growth. For the first time in over a decade, a Labour Chancellor will set the fiscal direction, making strategic preparation based on expert legal and commercial analysis more essential than ever.

Our forecasts

Our cross-practice team of legal, tax and sector specialists has analysed the political and economic signals to deliver comprehensive predictions across the key areas likely to dominate the Budget.

Our forecasts span anticipated announcements on income tax, National Insurance and pension relief and potential increases to capital gains tax rates and the possible abolition of Business Asset Disposal Relief.

Beyond general taxation, we examine sector-specific implications that will shape strategic decision-making, from proposed business rates reforms affecting retail and hospitality, to cost pressures and funding for schools, academies and higher education. In manufacturing, particularly automotive, the interplay between ambitious Zero Emission Vehicle mandate targets and taxation decisions on electric vehicles exemplifies how Budget measures will directly impact operational planning and investment strategies.

The analysis that follows provides actionable insights designed to help clients anticipate change, assess exposure and identify opportunities for strategic positioning ahead of 26 November.

The Budget's potential to unlock international investment and transform competitive positioning across key sectors demands careful attention to both immediate fiscal changes and longer-term regulatory shifts.

General and sector-specific approach

Our predictions are structured to move from general tax measures affecting all businesses and individuals through to detailed sector-specific forecasts, enabling readers to focus on the areas most relevant to their circumstances whilst understanding the broader fiscal context shaping the Chancellor's decisions.

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