UK’s RACHEL REEVES nears moment of truth with tax‑heavy budget

Wednesday, November 26, 2025 -Rachel Reeves — Britain’s finance minister and the first female chancellor of the exchequer — is set to present her second annual budget, expected to include another round of hefty tax increases. This comes despite her promise last year that she would not return with more major tax hikes.

The past 18 months in charge of the UK economy have been difficult. Mixed messages on taxation from Reeves and Keir Starmer have shaken investor and voter confidence alike, leaving the government’s credibility hanging in the balance. With only about 9% of Britons rating her job performance positively, the stakes for this Budget are unusually high.

Reeves has pitched the Budget as a way to restore fiscal stability while protecting public services. She says the aim is to secure the nation’s finances against future shocks and to deliver investments in areas like healthcare and infrastructure. 

But for many in her own party — and across the electorate — this “tax‑heavy” approach represents a political gamble: if the plan fails to deliver growth or stability, the fallout could be widespread.