Autumn Budget 2025: Will taxes rise further – and which areas could Rachel Reeves target?

After announcing cash injections for several departments in her June Spending Review, the chancellor has refused to rule out tax hikes this autumn

Chancellor of the Exchequer, Rachel Reeves, standing outside 11 Downing Street
(Image credit: Photo by Carl Court/Getty Images)

Chancellor Rachel Reeves has refused to rule out tax hikes this autumn, as weak economic growth and stretched public services put pressure on the public purse.

After growing by more than expected in the first quarter of the year, the economy is now showing signs of slowing, having shrunk 0.3% in April against a backdrop of higher business taxes and global trade disruption.

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Katie Williams
Staff Writer

Katie has a background in investment writing and is interested in everything to do with personal finance, politics, and investing. She enjoys translating complex topics into easy-to-understand stories to help people make the most of their money.

Katie believes investing shouldn’t be complicated, and that demystifying it can help normal people improve their lives.

Before joining the MoneyWeek team, Katie worked as an investment writer at Invesco, a global asset management firm. She joined the company as a graduate in 2019. While there, she wrote about the global economy, bond markets, alternative investments and UK equities.

Katie loves writing and studied English at the University of Cambridge. Outside of work, she enjoys going to the theatre, reading novels, travelling and trying new restaurants with friends.