MSE Forum Poll: How does the Autumn Budget 2025 affect your personal financial situation?

MSE_JC

Chancellor Rachel Reeves has announced the Autumn 2025 budget. You can read MSE's rundown of the key measures and watch Martin's analysis video.

Overall, how do you think this Budget will affect you individually?

Please note that this poll and thread are intended for people to share the impact on their particular circumstances without descending into general political debate. Forum rules still apply!

Brie

As low income pensioners there is little in this to effect us.  Higher SP is nice but not a big difference. 

The pay for mile on EVs will delay any switch we might contemplate given that makes them a bit more expensive.  I'm guessing it will be based on the mileage logged on annual MOTs.  Which means that an EV driver will be  unfairly penalised if they drive a lot outside of the UK.  

YorksLass

The April increase in state pension will be welcome but the freeze on personal tax allowances means the tax I already pay on a small final salary pension will also go up, so I'll not be much better off.  If the cost of living (particularly on food) continues to rise, then I could well be worse off.  The reduction in the amount of savings allowed in a cash ISA won't affect me (even though I'm over 65) but it's very unlikely I'll exceed that limit in my lifetime!

marymck

I recently lost my husband and am in the process of dealing with his cash ISAs, drawdown pension and NS&I investments. Whilst I'm relieved that I can still reinvest some of his savings in cash ISAs, I am concerned about how I handle the 2% tax rise on all other savings. I'm assuming that I'll now pay 22% income tax on interest in all savings that aren't in ISAs, including his NS&I income bonds that I am hoping to transfer to my name. I'm not quite sure how I declare that for tax purposes as it's a long time since I've had to complete a self assessment tax form. Hopefully the form will make it clear.

Obviously, I'm already worse off financially (obviously the emotional trauma is far worse) due to the death of my husband.  But coupled with the continued freeze in income tax thresholds and the rise in tax on savings I this budget leaves me worse off than my husband thought I would be.

I feel desperately sorry for those on the old state pension though. With every budget the gap between my new state pension and their old ones gets wider and wider. It's terribly unfair.

powerful_Rogue

Brie said:

As low income pensioners there is little in this to effect us.  Higher SP is nice but not a big difference. 

The pay for mile on EVs will delay any switch we might contemplate given that makes them a bit more expensive.  I'm guessing it will be based on the mileage logged on annual MOTs.  Which means that an EV driver will be  unfairly penalised if they drive a lot outside of the UK.  

PPM from 2028. Fuel duty rise from 2026.

kimwp

marymck said:

I recently lost my husband and am in the process of dealing with his cash ISAs, drawdown pension and NS&I investments. Whilst I'm relieved that I can still reinvest some of his savings in cash ISAs, I am concerned about how I handle the 2% tax rise on all other savings. I'm assuming that I'll now pay 22% income tax on interest in all savings that aren't in ISAs, including his NS&I income bonds that I am hoping to transfer to my name. I'm not quite sure how I declare that for tax purposes as it's a long time since I've had to complete a self assessment tax form. Hopefully the form will make it clear.

Obviously, I'm already worse off financially (obviously the emotional trauma is far worse) due to the death of my husband.  But coupled with the continued freeze in income tax thresholds and the rise in tax on savings I this budget leaves me worse off than my husband thought I would be.

I feel desperately sorry for those on the old state pension though. With every budget the gap between my new state pension and their old ones gets wider and wider. It's terribly unfair.

Do you know about the starter rate for savings?

twopenny

I'm on the old pension plus a small teaching pension which I have to pay tax on even though I'm on half what the government says you need to live on.

Not gone into detail because it's all too depressing when you're on a fixed income.
But food and all other services increasing prices because of the rise in minimum wage will affect everything that's every day stuff you can't avoid.