3 h. ago I earn £93,000 and salary sacrifice £620 a month in my pension, what will the cap cost me?

In the Budget the Chancellor announced a future restriction on the National Insurance benefit of salary sacrifice pension contributions. Here's what you need to know.

Economics

4 h. ago Starmer says budget did not break manifesto tax pledge and scrapping two

PM says: ‘We kept to our manifesto in terms of what we’ve promised. But I accept the challenge that we’ve asked everybody to contribute’Ask the Guardian your budget questionsShare your views on the new ‘mansion tax’Budget calculator: find out if you are better or worse offThe Conservative party is attacking the budget on the grounds that Rachel Reeves is putting up taxes supposedly to fund more spending on benefit claimants. Even though the rationale for this claim is questionable, the Tories were making it before the budget was announced, and Kemi Badenoch firmed it up last night, claiming it was a “Benefits Street budget”.On LBC this morning, asked if the budget meant “alarm clock Britain paying for Benefits Street”, Reeves said she did not accept that. She said 60% of the families that would benefit from the removal of the two-child benefit cap (the most expensive welfare announcement in the budget) were in work.I don’t think children should be punished by this pernicious policy ...

Economics

6 h. ago Reeves should have included more tax reform in budget to help growth, IFS thinktank says – UK politics live

Institute for Fiscal Studies director says chancellors continue to ‘shy away from meaningful tax reform that could move the dial’Ask the Guardian your budget questionsShare your views on the new ‘mansion tax’ Budget calculator: find out if you are better or worse offThe Conservative party is attacking the budget on the grounds that Rachel Reeves is putting up taxes supposedly to fund more spending on benefit claimants. Even though the rationale for this claim is questionable, the Tories were making it before the budget was announced, and Kemi Badenoch firmed it up last night, claiming it was a “Benefits Street budget”.On LBC this morning, asked if the budget meant “alarm clock Britain paying for Benefits Street”, Reeves said she did not accept that. She said 60% of the families that would benefit from the removal of the two-child benefit cap (the most expensive welfare announcement in the budget) were in work.I don’t think children should be punished by this pernicious policy any lo...

Politics

7 h. ago Reeves dismisses Tory claims of ‘Benefits Street budget’ – UK politics live

Chancellor says 60% of families that will be better off after the two-child limit is scrapped are in workAsk the Guardian your budget questionsBudget calculator: find out if you are better or worse offThe Conservative party is attacking the budget on the grounds that Rachel Reeves is putting up taxes supposedly to fund more spending on benefit claimants. Even though the rationale for this claim is questionable, the Tories were making it before the budget was announced, and Kemi Badenoch firmed it up last night, claiming it was a “Benefits Street budget”.On LBC this morning, asked if the budget meant “alarm clock Britain paying for Benefits Street”, Reeves said she did not accept that. She said 60% of the families that would benefit from the removal of the two-child benefit cap (the most expensive welfare announcement in the budget) were in work.I don’t think children should be punished by this pernicious policy any longer. And the cost to society of this is huge, the cost for counci...

Politics

22 h. ago 'Children should not suffer': Readers respond to Rachel Reeves scrapping two

Some have supported Rachel Reeves' change to the two-child benefit cap, while others claim it is "financial irresponsibility"

Politics

23 h. ago Millions more dragged into paying higher income tax in Reeves’s £26bn Budget squeeze

Chancellor admits ‘I am asking ordinary people to pay a little more’ as she unveils 43 tax rises, but finally scraps the much-criticised two-child benefit cap

Economics

23 h. ago Martin Lewis gives Budget verdict and how new changes will impact your money

Rachel Reeves has announced the changes to this year's Budget, including scrapping the two-child benefit cap.

Economics

24 h. ago Rachel Reeves says budget will cut living costs after shock OBR leak

Chancellor unveils action on energy bills, rail fares and two-child benefit cap as she reveals £26bn tax risesHow does freezing tax thresholds affect your tax bill?Budget 2025: key points at a glanceRachel Reeves has declared her budget will slash living costs for millions including ending the two-child benefit limit and cutting energy bills, but taxes are set to soar by £26bn to plug a gaping shortfall in the public finances.Major measures in the budget leaked early in a shock accidental release by the Office for Budget Responsibility (OBR), triggering an instant bond market reaction an hour before the chancellor was on her feet in the House of Commons. After months of speculation, Reeves said her measures would put the public finances on a sustainable path while building “a fairer, a stronger, a more secure Britain” by tackling inflation and investing in large infrastructure projects. Continue reading...

Economics

25 h. ago Voices: ‘A kick in the teeth’: Readers say Rachel Reeves’ Budget ‘punishes responsibility’

Our community overwhelmingly feel the Budget prioritises Labour’s political goals over public needs, hitting already-squeezed taxpayers with steep rises while offering little confidence in meaningful economic improvement

Politics

25 h. ago Labour Government scrapped two child benefit cap after “personal campaign” by Anas Sarwar

Daily Record Political Editor Paul Hutcheon says the Budget was good for Scottish Labour and gives Anas Sarwar gains to take to voters.

Politics

27 h. ago Budget 2025 live: Rachel Reeves announces £26bn plan for income tax, pensions and ISA cuts after OBR leak

Chancellor unveils series of tax hikes to fill black hole in public finances in addition to ditching two-child benefit cap and changes to ISAs

Economics

28 h. ago Budget 2025: DWP Universal Credit, PIP and Child Benefit rises

Chancellor Rachel Reeves announces two-child benefit cap abolished as she says

Politics

28 h. ago Budget 2025 live: Rachel Reeves delivers £26bn tax rises after OBR leaks plan early

Chancellor unveils series of tax hikes to fill black hole in public finances in addition to ditching two-child benefit cap and changes to ISAs

Economics

29 h. ago Budget 2025: Two child benefit cap axed as Chancellor ends 'heinous' Tory policy

The move is expected to lift 20,000 Scots kids out of poverty.

Events

29 h. ago Budget 2025 live: OBR error reveals Rachel Reeves’ full tax plans just minutes before speech

Chancellor to unveil series of tax hikes to fill black hole in public finances in addition to ditching two-child benefit cap and changes to ISAs

Economics

30 h. ago Budget 2025 live: Rachel Reeves appears with iconic red Budget briefcase ahead of unveiling tax rises and cuts

Chancellor to unveil series of tax hikes to fill black hole in public finances in addition to ditching two-child benefit cap and changes to ISAs in highly anticipated Budget on Wednesday

Economics

32 h. ago Budget 2025 live: Rachel Reeves to unveil billions in tax rises based on ‘fair and necessary’ choices

Chancellor to unveil series of tax hikes to fill black hole in public finances in addition to ditching two-child benefit cap and changes to ISAs in highly anticipated Budget on Wednesday

Economics

34 h. ago £14,000 handouts to 18,000 families: Reeves's Budget will raise taxes to fund benefits windfall for parents of six or more children

Official figures show the Chancellor's Budget plan to scrap the two-child benefit cap will be worth more than £14,000 a year each to 18,000 low-income families with six or more children.

Economics

38 h. ago £14,000 handouts to 18,000 families: Rachel Reeves's Budget will raise taxes to fund benefits windfall

Official figures show the Chancellor's Budget plan to scrap the two-child benefit cap will be worth more than £14,000 a year each to 18,000 low-income families with six or more children.

Economics

43 h. ago Budget 2025: Rachel Reeves to hammer London in tax grab on wealthy homeowners and millions of workers

The Chancellor’s plans will also seen 260,000 children in the capital benefit from the lifting of the two-child welfare cap

Economics