UK Budget 2025, Nov. 27 -- Finance Minister Rachel Reeves, whose official title is chancellor of the exchequer, unveiled a tax-raising budget on Wednesday.

The Chancellor of the Exchequer told MPs that she said she would cut the cost of living, and she meant it - "this budget will bring down inflation and provide immediate relief for families."

"My choices are a budget for fair taxes, strong public services, and a stable economy," Reeves told parliament.

According to an estimate published by the Office for Budget Responsibility, tax rises will raise an extra 26.1 billion pounds ($34.4 billion) a year in tax by 2029/30.

- The government is raising taxes on property, dividend and savings income, reflecting the fact that income from thos...