Sky News Daily Budget 2025: Are you a winner or loser?
Nov 26, 2025
Iona Bain, a personal finance journalist and consumer expert, dives into the impacts of Chancellor Rachel Reeves' budget on households. She discusses who benefits most, highlighting larger families and pensioners, while also addressing the implications of tax freezes and ISA allowance cuts. Bain explains how the minimum wage increase affects market dynamics and unpacks the new mansion tax surcharge. With insights on the potential struggles for small businesses and low-income families, she provides crucial context on fiscal changes that could leave many wondering if they’re winners or losers.
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Relief For Lower-Income Families
- Lifting the two-child benefit cap and aligning benefits with inflation target lower-income families.
- Energy levy cuts may save £150 but bills could stay high if the price cap rises.
Tax Threshold Freeze Hits Broadly
- Freezing income tax thresholds raises the effective tax burden across incomes via fiscal drag.
- That extension magnifies future tax hits and will affect many households beyond headline rates.
Don't Panic With Pension Withdrawals
- Avoid panic withdrawals from pensions in response to budget rumours about caps.
- Keep long-term trust in pensions to ensure people save enough for retirement, experts warn.