Budget 2025 predictions as Rachel Reeves makes changes to tax, benefits and savings - The Mirror

Contributing sentiments towards policy:

62% : A new levy could be applied to some of the most valuable homes in what has been billed by some as a "mansion tax" to raise hundreds of millions.
59% : The move would reportedly revalue some of the most valuable properties across council tax bands F, G and H and hit 100,000 of them with a new surcharge, with the threshold starting at £2million.
58% : But there has been speculation drivers of electric vehicles could face a new levy with a pay-per-mile charge from 2028.
57% : It restricts child tax credits and universal credit to the first two children in a family.
55% : Chancellor Rachel Reeves will tomorrow deliver her long-awaited Budget after months of speculation over tax hikes.
55% : But the government had been considering ripping up the promise on income tax with the first hike in almost 50 years.
54% : The tax on sugary drinks will be widened to drive down obesity and protect children's health, the Mirror understands.
53% : As this exchange happens before tax and National Insurance are calculated, both the employee and employer typically save on National Insurance.
52% : But there is speculation the Chancellor could use the Budget to announce new powers for local leaders to introduce taxes for overnight stays.
51% : Health Secretary Wes Streeting is preparing to announce plans to lower the threshold for the Soft Drinks Industry Levy from 5g to 4.5g of sugar per 100ml, meaning more beverages will be affected unless manufacturers slash sugar levels.
51% : The government has previously said there are "no plans" for a tourist tax in England.
50% : Expect the cost of cigarettes to go up if the Chancellor makes changes to tobacco duty, which is a tax charged to companies making or importing cigarettes in the UK.
49% : Different forms of tourist taxes already exist in European holiday hotspots including Spain and France.
48% : The government has, however, refused to rule out extending the freeze on income tax thresholds for another two years, which had been due to end in 2028.
48% : There is currently no cap on how much you can save into your pension through salary sacrifice, although there is an overall annual allowance of £60,000 for how much you can pay into your retirement pot before you pay tax.
47% : Reports have suggested this could be charged at 3p per mile on top of other road taxes.
46% : Labour's election winning manifesto promised no hikes on VAT, national insurance, or income tax for working people.
44% : Mayors across England have previously called on the Treasury to allow them to introduce tourist taxes to help fund cash-strapped public services.
42% : The Treasury has been looking at hikes to gambling taxes.
41% : The levy on petrol and diesel used to rise in line with inflation but was frozen in 2011.
40% : The move - often branded a stealth tax - means more people are dragged into paying a higher rate of tax as their incomes rise.

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