Rathbones: Long wait for Budget date only prolongs uncertainty

Chancellor Rachel Reeves has today confirmed that the Budget will be delivered on Wednesday 26 November. In the run-up, Rathbones, one of the UK’s leading wealth managers, is seeing increased enquiries on pensions, estate planning and buy-to-let amid growing speculation.

Commenting, Rebecca Williams, Divisional Lead of Financial Planning at Rathbones, says:

“With the Budget now set for 26 November, it feels like a rather late fiscal event. But with public finances stretched thin, the delay underlines that ministers are in full-on thinking mode ahead of what is shaping up to be one of the most consequential Budgets in a generation. It seems inevitable that some form of tax rises – stealth or otherwise – will be unveiled as the government looks to balance the books.

“For households, the long wait only prolongs uncertainty at a time when many are still grappling with the cost-of-living squeeze. Markets and savers alike dislike being left in the dark, and it is little wonder we’ve seen a surge in queries around pensions taxation, estate planning, and whether it remains worthwhile to hold on to buy-to-let properties amid growing speculation.

“But while it is sensible to keep an ear to the ground, it is important to remember that headline announcements grab the spotlight while quieter changes – such as freezes to allowances – can be just as impactful over time. Whatever the shape of the Chancellor’s statement, it remains good practice to avoid knee-jerk reactions based on rumour.

“This period of waiting can be used productively: to review budgets, shore up financial resilience, and stress-test long-term plans. Above all, good financial decisions should be grounded in sound advice and verified information. Making the most of tax-free allowances – such as ISAs and pensions – remains a prudent move whatever the future may bring. Budgets come and go, but the principles of sensible financial planning stand the test of time.”