Budget to address economy that’s “not working well enough for working people”
Today (Wednesday 3 September), the Chancellor has confirmed that the date of the Budget will be Wednesday 26 November.
In a video message posted this morning, the Chancellor of the Exchequer, Rachel Reeves said:
Britain’s economy isn’t broken. But I know it’s not working well enough for working people.
Bills are high. Getting ahead feels tougher. You put more in, get less out. That has to change.
We’ve got huge potential - world-leading brands, dynamic industries, brilliant universities, and a skilled workforce. We’re a global hub for trade.
Fixing the foundations has been my mission this past year.
We raised the minimum wage for three million people.
Cut NHS waiting lists.
Started tearing up planning rules to build 1.5 million new homes.
Promised billions more for the country’s infrastructure.
Secured trade deals with the US, India, and the EU.
And changed Treasury rules so investment reaches every part of the country.
But I’m not satisfied. There’s more to do.
Cost of living pressures are still real.
And we must bring inflation and borrowing costs down by keeping a tight grip on day to day spending through our non-negotiable fiscal rules.
It’s only by doing this can we afford to do the things we want to do.
If renewal is our mission and growth are our challenge. Investment and reform are our tools.
The tools to building an economy that works for you - and rewards you.
More pounds in your pocket. An NHS there when you need it. Opportunity for all.
Those are my priorities.
The priorities of the British people.
And it is what I am determined to deliver.
More information
- Watch the Chancellor’s announcement video.
- The Chancellor’s first job was to fix the foundations. That has meant backing working people with a National Living Wage rise benefiting three million workers, strengthening public services by starting to bring down NHS waiting lists, and unlocking growth through planning reform and an additional £120 billion investment in Britain’s infrastructure. At the same time, the Government has secured Britain’s place in the world with new trade deals with the US, India and the EU.
- Our stewardship of the economy has also helped the Bank of England cut interest rates five times, which means lower mortgage payments and cheaper borrowing for families and businesses. With the foundations repaired and stability restored, the next Budget will turn to the long-term reforms Britain needs to unlock growth and ensure it works for working people.
- HM Treasury has launched the Budget representation portal where you can submit comments on existing policy for consideration in the Budget. The portal will close at 23:59 on Wednesday 15 October. The representations will be collated and shared with HMT policy officials.
Updates to this page
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Link to Budget representation portal added.
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First published.