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Autumn Budget 2025 Live: Rachel Reeves promises not to bring the UK back to austerity
Luke Alsford,
Sarah Hooper and
Craig Munro
Published November 26, 2025 6:20am
Updated November 26, 2025 6:20am
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The Chancellor has vowed that she will not return the UK to austerity ahead of the unveiling of her second Budget.
In a filmed video ahead of the Budget, Rachel Reeves said the Government had started to see results in the past year with ‘wages rising faster than inflation, hospital waiting lists coming down, and our economy growing faster and stronger than people expected’.
‘But I know there is more to do,’ she said. ‘I know that the cost of living is still bearing down on family finances, I know that people feel frustrated at the pace of change, or angry at the unfairness in our economy.
‘I have to be honest that the damage done from austerity, a chaotic Brexit and the pandemic were worse than we thought.
‘But I’m not going to duck those challenges, and nor will I accept that our past must define our future. It doesn’t have to.’
She described the Budget as being for ‘the British people’ and said the Government would work with them to ‘build a fairer, stronger and more secure Britain’.
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Sort: Newest first Oldest first November 26, 2025 6:23 am Reeves says public ‘angry at unfairness’ in economy ahead of Budget Isobel FrodshamRachel Reeves acknowledged people are ‘angry at unfairness’ in the British economy ahead of unveiling her second Budget on Wednesday.
In a filmed address ahead of the Budget, the Chancellor said the Government had started to see results in the past year with ‘wages rising faster than inflation, hospital waiting lists coming down, and our economy growing faster and stronger than people expected’.
‘But I know there is more to do,’ she said. ‘I know that the cost of living is still bearing down on family finances, I know that people feel frustrated at the pace of change, or angry at the unfairness in our economy.
‘I have to be honest that the damage done from austerity, a chaotic Brexit and the pandemic were worse than we thought.
‘But I’m not going to duck those challenges, and nor will I accept that our past must define our future. It doesn’t have to.’
The Chancellor insisted she will use her Budget to introduce measures to tackle the cost-of-living crisis, as the beleaguered Government hopes to keep backbench Labour MPs on side amid an expected series of tax rises.
November 26, 2025 6:21 am Good morning, welcome to Metro’s Autumn Budget blog Isobel FrodshamGood morning – and we’re back! We’ll be bringing you the latest coverage of the Budget as it is unveiled in the House of Commons in Westminster later on today.
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