The chancellor, Rachel Reeves, has announced that this year’s Autumn Budget will take place on 26 November, almost one month later than last year’s major fiscal event.
In a statement to the House of Commons, Reeves said she has asked the Office for Budget Responsibility to prepare an economic and fiscal forecast for publication on 26 November 2025, which will be accompanied by the annual budget.
“This is in line with my commitment to deliver one major fiscal event a year, to give families and businesses the stability and certainty they need and, in turn, to support the government’s growth mission,” said Reeves, who has just also appointed a new director general, tax and welfare, to replace Dan York-Smith, who has become Keir Starmer's PPS.
Outlining her plans for the budget in a video message on YouTube this morning, Reeves said: “Britain’s economy isn’t broken, but I do know that it’s not working well enough for working people. Bills are too high and you feel that you're putting more in, but you're getting out. And that has to change.
“Britain's got huge potential – we've got world-leading brands, dynamic industries, brilliant universities, a skilled workforce. We’re fixing the foundations and that has been my mission the last year. That's why we raised the minimum wage for three million people. It's why we've cut NHS waiting lists. And it's why we are tearing up our planning rules, so we can actually build the 1.5 million homes that families in Britain need."
She added: "But there are still challenges. The cost of living pressures, I know, are still very real. We need to bring inflation and borrowing costs down, and we do that by keeping a tight grip on day-to-day spending and by enforcing my non-negotiable fiscal rules.
"Renewal is our mission and growth is our challenge. Investment and reform are our tools. The tools to building an economy that works for you and your family – and rewards you. More pounds in your pocket. An NHS that is there when you need it. And opportunities for all, including your kids and grandkids. Those are my priorities as your chancellor. And they are the priorities of the British people. And it is what I am absolutely determined to deliver.”