Ruth Curtice
ruthcurtice.bsky.social
Ruth Curtice
@ruthcurtice.bsky.social
Chief Executive, Resolution Foundation
Sure I understand those making this point. But if a pensioner is adding to their savings by more than £12k a year they can afford to pay tax on the interest.
November 27, 2025 at 7:49 AM
Some chunky support for energy bills, probably amounts to around £125 of support. But some of it only last three years - supporting families through the hump in energy prices, or convenient with a four year fiscal rule?
November 26, 2025 at 1:38 PM
Fuel duty freeze extended to September 2026. Crucial question as to whether the government manages to successfully start to increase fuel duty from then.
November 26, 2025 at 1:36 PM
Chancellor confirms she will fully lift the limit on additional benefits for third and subsequent children, and dedicates a long chunk of the speech to explaining why. Hooray.
November 26, 2025 at 1:32 PM
Tax rises on gambling, also widely anticipated. But tax cuts for bingo! I wonder if bingo was on anyone's Budget bingo card...
November 26, 2025 at 1:26 PM
Cantering through some quite big tax measures at pace here....
November 26, 2025 at 1:24 PM
Confirmation of two things expected: a mansion tax, doesn't raise huge amounts (£400m) but a big deal to introduce one; and a cap on salary sacrifice at £2k. That raises quite a bit in the key fiscal year (£4.7bn) but much less in the year after - must be some behavioural effects going on.
November 26, 2025 at 1:22 PM
New 2% tax rise on property income, savings and dividend income. A welcome step to reducing the gap between tax on work and other forms of income.
November 26, 2025 at 1:18 PM
3 year tax freeze is a year longer than had been anticipated - a year beyond the current fiscal rule. But helps Chancellor not to have to come back again. In 29-30 will mean typical pensioners pay an extra £100 and basic rate taxpayers £140.
November 26, 2025 at 1:15 PM
£820m over three years for youth guarantee, plus more support for apprenticeships sounds positive.
November 26, 2025 at 1:12 PM
The fiscal forecast has more bad news in early years than later ones. And the tax rises are focused at the back end. Together, means the current budget is higher in all years until 29-30 ie it gets worse before it gets better.
November 26, 2025 at 1:01 PM
Chancellor hugely increases headroom. Meets her current budget rule a year early than needed, in 28-29. But in the Spring she was actually meeting it two years early, in 27-28.
November 26, 2025 at 12:58 PM
Cash ISA limit cut to £12,000 as expected - though only for under 65s! A new bias in the tax system towards pensioners is introduced....
November 26, 2025 at 12:54 PM
After all the fuss, the hit from the OBR forecast was £5.5bn - Chancellor would still be meeting her fiscal rules if it were just for that. Productivity downgrade offset by higher wages and inflation, as we anticipated.
November 26, 2025 at 12:53 PM
A full 0.3% downgrade to productivity is as big as expected, with a £16bn hit to tax receipts. But we already know there is some good news offsetting this in the rest of the forecast. Leaves productivity growth in the forecast much more in line with Bank/consensus.
November 26, 2025 at 12:43 PM
More than doubling headroom (to £22bn) in the face of a deteriorating forecast goes against the typical pattern of Chancellor's tending to underreact to bad news.
November 26, 2025 at 12:41 PM
She promised she'd be the designated driver and give everyone a lift home (manifesto). But then Richard Hughes beat her at chess and now she really needs a drink.
November 21, 2025 at 2:05 PM
Especially since it just means a platter of sandwiches. Which doesn't sound so bad, although maybe Kemi Badenoch would still object.
November 21, 2025 at 2:02 PM
"which started to feed in last week". Doesn't sound plausible -OBR view of the economy was fixed by then.
November 14, 2025 at 2:07 PM