This is Money Podcast Was the Budget a success or a dud and what will it mean for you?
33 snips
Oct 30, 2026 The Budget gets a mixed verdict, from a £100 energy payment and a last-minute cash ISA reprieve to higher taxes on savings and greater pension complexity. The discussion covers frozen student-loan thresholds, landlord tax changes, bank levies, carers’ support and first-time buyer measures. It also asks whether the plans offer any real solution to Britain’s sluggish growth and strained public finances.
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Cash ISAs Can Be A Gateway To Investing
- Keeping the £20,000 cash ISA allowance preserves a low-risk gateway that can later lead savers into investing.
- Helen Crane argued that forcing people away from cash is especially ill-timed while households feel financially insecure.
Non-ISA Savers Face A Four-Point Tax Rise
- Savings tax will rise by four percentage points overall, reaching 24% for basic-rate savers, 44% for higher-rate savers and 49% for additional-rate taxpayers.
- The change particularly disadvantages cautious older savers who never used ISAs during their working lives.
The State Pension Creates Another Tax Trap
- The state pension’s rise to £13,036 risks pulling pensioners into tax because frozen allowances have not kept pace.
- The government’s selective exemption creates a complex two-tier system and may produce a new 53% tax trap as it tapers away.