Overview
- Income tax thresholds are frozen until 2030–31, with the OBR estimating 780,000 more basic‑rate, 920,000 more higher‑rate and 4,000 more additional‑rate payers in 2029–30, raising about £7.6 billion that year.
- Cash ISA allowances fall to £12,000 for most savers from April 2027 with over‑65s exempt, and salary‑sacrifice pension contributions above £2,000 a year will incur National Insurance from 2029.
- A high‑value council tax surcharge will apply to properties over £2 million from April 2028, expected to raise £0.4 billion in 2029–30, while Remote Gaming Duty rises to 40% from April 2026 and bingo duty is abolished.
- The two‑child benefit cap is scrapped from April 2026, with ministers citing child‑poverty concerns and an estimated multi‑billion‑pound cost over the forecast period.
- The OBR lifted 2025 growth to 1.5% but downgraded later years, and it says fiscal headroom will widen to £22 billion by 2029–30 after the Budget’s revenue measures.