Impact of Autumn Budget on Your Finances

Chancellor Rachel Reeves presented her second Budget, introducing measures such as enhanced EV charging, the removal of the two-child benefit cap, and energy bill cuts, despite a rocky start due to a leaked OBR forecast. Income tax thresholds will be frozen, potentially increasing tax burdens for many workers as wages rise. Minimum wage will increase in April, with new council tax bands introduced for high-value properties starting in 2028. Additionally, changes to ISA contributions and increased taxes on savings and dividends were outlined.

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