Overview
- Reeves has ruled out raising main income tax rates but is expected to extend freezes on income tax and National Insurance thresholds beyond 2029.
- High‑value property changes are expected, including revaluing council tax bands F–H and an additional charge on homes valued above £2 million.
- Pension and savings moves under review include a £2,000 cap on salary‑sacrifice National Insurance relief and a cut to the ISA allowance from £20,000 to £12,000.
- Transport measures being examined include a pay‑per‑mile levy for electric vehicles, with rail fares frozen and a further fuel‑duty freeze widely reported as likely; a VAT cut on household energy is not expected.
- Cost‑of‑living steps include a confirmed minimum wage increase and a state pension uplift, with the removal of the two‑child benefit cap signalled, as business groups warn of hiring and cost pressures.