 | |
| Country | United Kingdom |
|---|---|
| Parliament | 59th |
| Party | Labour Party |
| Chancellor | Rachel Reeves |
2026 spring statement› | |
| ||
|---|---|---|
Chancellor of the Exchequer (2024–present)
Family
Bibliography  | ||
The November 2025 United Kingdom budget was delivered to the House of Commons by Rachel Reeves, the chancellor of the exchequer, on 26 November 2025. [1] [2] [ failed verification ]
In an interview with Sky News' political editor Beth Rigby on 22 November 2025 at the 2025 G20 Johannesburg summit, Keir Starmer refused to rule out implementing manifesto-breaking tax hikes in the budget. [3]
Prior to the reading of the budget speech, the OBR’s Economic and Fiscal Outlook report for the November 2025 budget was accidently published, [4] [5] revealing the entirety of the measures set out in the Chancellor's statement. [6] An internal investigation into the leak, led by the OBR’s Chief of Staff Laura Gardiner, was published on 1 December 2025. It described the leak as, "the worst failure in the 15 year history of the OBR," and that "ultimate responsibility" for the leak lay with "the leadership of the OBR." As a result, Richard Hughes, the OBR chair, resigned on 1 December. [7]
