Millions more to pay higher income tax in Reeves’s £26bn Budget squeeze

Thursday, November 27, 2025

Good morning and welcome to your daily news briefing from The Independent.

The chancellor Rachel Reeves has unveiled £26bn worth of tax rises in her Budget, Donald Trump's son has defended his father's envoy over leaked conversations with Russian officials, and a Hong Kong fire is contunuing to rage as death toll rises to 44 with hundreds missing.

Top stories

1 | Millions more to pay higher income tax in Reeves's £26bn Budget squeeze

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2 | The main announcements in Rachel Reeves's speech

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3 | Hong Kong fire continues to rage as death toll rises to 44 with hundreds missing

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4 |Nigel Farage accused of 'persistent' racial abuse by ex-schoolmate

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5 | Trump Jr defends father's peace envoy over leaked call with Russians

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ASK ME ANYTHING

Join a Budget Q&A with money expert Gabriel Nussbaum

Personal finance guru Gabriel Nussbaum (aka That Money Guy) will be answering your questions about everything from salary sacrifice to fiscal drag. Submit your question here.

Editors' picks

'Kick in the teeth': Readers say Budget 'punishes responsibility'

As a middle-class worker currently being taxed at around 62 per cent, I find it completely unacceptable that Labour is lifting the two-child cap. Having children is a personal choice, one that should be taken responsibly.

Also, hitting pensions through salary sacrifice is another kick in the teeth. I'm all for fair taxation, but we're so far from it now. Not shocked, but still deeply disappointed.

Get involved and share your views here.

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WATCH 

Cops save unconscious man from burning car after phone auto-dialed 911

STAT OF THE DAY

1.7 million

1.7 million workers are set to pay more income tax due to Reeves's 'stealth tax'.

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QUOTE OF THE DAY

"It's actually a war on landlords - we're an easy target, we can't move our business abroad."

A letting agency director has said renters will pay the price as he accused Rachel Reeves of waging a war on landlords.

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