Budget 2025: The key points at a glance | Money News


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Chancellor Rachel Reeves has unveiled the long-anticipated budget.

It comes after a report from the Office for Budget Responsibility (OBR), which analyses policies decided on by the chancellor, was published early in error.

Here are the key points:

Tax thresholds will be frozen for an additional three years from 2028

The point at which people start paying higher rates of tax will be held. It can mean earners will be dragged into higher tax bands when they get a pay rise.

This will raise £8bn.

Taxes hiked on gambling

The gambling industry is going to be taxed more, to raise more than £1bn.

Remote gaming duty will rise to 40% from 21% while online betting tax will rise from 15% to 25%.

The bingo tax is being abolished from April.

New mileage tax on electric cars

Electric car drivers will be subject to a 3p charge for every mile they drive from April 2028.

Plug-in hybrid vehicles will be charged 1.5p per-mile.

This is expected to raise £1.4bn, according to the OBR report.

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Change to capital gains tax for employee ownership trusts

Capital gains tax relief on business sales made to…

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