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The chancellor is widely expected to raise levies on Wednesday to help close a multi-billion pound spending gap
James C. ReynoldsSaturday 22 November 2025 23:48 GMTComments
CloseReeves recognises cost of living still 'big burden' as inflation dips
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Rachel Reeves has vowed to support working families with an autumn budget that will work to cut waiting lists, national debt and the cost of living.
The chancellor told the economy is not working for working people and pledged to “grip the cost of living” with measures aimed at building a fairer, stronger and more secure Britain.
“Working families will be at the front of my mind as I set out how we will cut NHS waiting lists, cut national debt and cut the cost of living,” she told the newspaper, addressing readers.
“These are the priorities of the country and my priorities as your Chancellor.”
Ms Reeves said the budget would build on work already done to cut waiting lists, extend the freeze on prescription charges, and roll out breakfast clubs.
open image in galleryRachel Reeves said she intends to build a budget “for you and your family” in comments to The Mirror (PA Wire)The chancellor confirmed this week that the cost of a single prescription will be frozen at £9.90, saving patients around £12 million next year.
Towards fairness, the budget is expected to include measures to regularly name and shame employers who breach national minimum wage rules.
A Treasury source said: “We are sending a clear message - those who short change their staff will not be allowed to hide.”
In comments to The Mirror, the chancellor also stressed the importance of cutting national debt and reinvesting the money in public services.
She said there was “nothing progressive” about spending £1 in every £10 on debt interest, and reiterated that the money should be going into schools, hospitals, police and communities.
On Friday, she suffered a blow as official figures showed government borrowing was £3 billion higher in October than the Office for Budget Responsibility had expected.
The chancellor is widely expected to raise levies on 26 November in an effort to bridge a multi-billion-pound gap in her spending plans.
While the government appears to have rowed back on reported earlier plans to increase income tax, it is widely expected to look at other ways to raise cash to tackle the shortfall and meet Reeves’ fiscal rules.
Sir Keir Starmer insisted previously that the second Budget would reflect "Labour values" and be "based on fairness".
open image in galleryThe Prime Minister has declined to recommit to manifesto pledges on tax (PA Wire)The prime minister said it would prioritise protecting public services, particularly the NHS, cutting the national debt and tackling the cost of living.
He evaded questions on whether Labour's pre-election pledge to voters would be broken, despite multiple follow-ups including on whether income tax thresholds will be frozen.
Ms Reeves is also expected to announce more planners to support national house building on Wednesday, an initiative raised last year.
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