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Chancellor Reeves Unveils Budget to Tackle Living Costs

11/23/2025

Summary

Story summary

Chancellor Rachel Reeves, the United Kingdom Chancellor of the Exchequer, will present the budget on November 26 to address living costs.
The plan would freeze rail fares for the first time in 30 years, saving commuters over £300 annually.
To cover a multibillion-pound gap, Reeves would freeze income tax thresholds, raising £8.3 billion by 2029-30.
The package may include welfare reform, scrapping the two-child cap, and increasing care leaver support.

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Story summary

Chancellor Rachel Reeves, the United Kingdom Chancellor of the Exchequer, will present the budget on November 26 to address living costs.
The plan would freeze rail fares for the first time in 30 years, saving commuters over £300 annually.
To cover a multibillion-pound gap, Reeves would freeze income tax thresholds, raising £8.3 billion by 2029-30.
The package may include welfare reform, scrapping the two-child cap, and increasing care leaver support.