The Autumn Budget was never expected to deliver significant changes to tax and spending, with many of the bigger decisions likely to come in the 2027 Spending Review.
For savers, the decision to leave the ISA allowance unchanged provides some welcome certainty. However, the increase in tax on savings income outside ISAs will mean additional costs for some.
For SMEs, the increase in the National Living Wage is welcome news for employees, but it also adds to the cost pressures businesses are already managing. For those operating on tighter margins, this could influence decisions around recruitment and future investment.
There was some positive news for eligible businesses in the retail, hospitality and leisure sectors through changes to business rates relief, which should help ease some of the pressure on operating costs.
Overall, the Budget offers targeted support, but businesses will still need to navigate a challenging cost environment. Many will now be looking towards the 2027 Spending Review for greater clarity on the Government’s longer-term plans.
