Tax strategy will be needed to get through one of the toughest second Budgets in living memory 3 September 2025 Commenting on the Chancellor’s announcement today (Wednesday) that Autumn Budget 2025 will be held on Wednesday 26th November, Ruth Curtice, Chief Executive of the Resolution Foundation, said: “The Chancellor has officially fired the starting pistol on the countdown to one of the toughest second Budgets in living memory. “With higher gilt yields currently adding over £3 billion to debt interest costs, and over £6 billion of policy U-turns announced since March, the Chancellor is already on track to miss her fiscal rules. With a growth downgrade also likely, significant fiscal tightening will be needed. “The Chancellor should use this Budget to set out her tax strategy as well as raise revenue. While tax rises are likely to be necessary, this should aim to ensure they make the system fairer and more efficient, supporting higher growth and lower inequality.”
