{"id":593245,"date":"2025-11-25T17:26:22","date_gmt":"2025-11-25T17:26:22","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/593245\/"},"modified":"2025-11-25T17:26:22","modified_gmt":"2025-11-25T17:26:22","slug":"budget-2025-five-things-for-people-in-ni-to-watch-out-for-in-chancellor-rachel-reeves-announcemnt","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/593245\/","title":{"rendered":"Budget 2025: Five things for people in NI to watch out for in Chancellor Rachel Reeves’ announcemnt"},"content":{"rendered":"

While a rise in the basic rate of income tax appears to have been dispensed with, there could be other forms of taxation in a wide variety of areas.<\/p>\n

Here, the Belfast Telegraph breaks down what people in Northern Ireland should be looking out for as a result of the rumoured policy announcements.<\/p>\n

Minimum wage increases\"The<\/p>\n

The minimum wage is set to go up in the Budget<\/p>\n

As announced on Tuesday, both the national minimum wage and the national living wage will be increased, in a move that will extend to Northern Ireland.<\/p>\n

The upshot is \u00a31,500 more a year for workers on the minimum wage, and \u00a3900 extra annually for those on the living wage.<\/p>\n

Child benefit boost <\/p>\n

The budget is expected to see a removal of the two-child cap on child tax credits and and universal credit, in a boost to families with three or more children.<\/p>\n

According to the most recent census figures from Northern Ireland, there are over 51,000 households in Northern Ireland that could benefit from the two-child cap being scrapped. <\/p>\n

A heftier price for a pre-made latte\"Pre-packaged<\/p>\n

Pre-packaged milkshakes and lattes will come under the sugar tax (Alamy\/PA)<\/p>\n

The Government is set to add a range of milk-based beverages to the soft drinks industry levy, sometimes referred to as the \u201csugar tax\u201d. This is a tax on pre-packaged drinks, like cans or bottles, that was introduced in 2018.<\/p>\n

The new move, announced on Tuesday by Health Secretary Wes Streeting, will see pre-packaged milk drinks, like bottled lattes and milkshakes, now come under the tax having previously been exempt from it.<\/p>\n

The upshot is that fans of a bottled latte or yogurt drink can expect to see a few extra percentage points of cost added onto the price of a purchase.<\/p>\n

Mixed news for electric car drivers\"Electric<\/p>\n

Electric vehicle owners facing mixed news in the Budget<\/p>\n

Policy towards EVs is set to change, as the Government seeks to balance increasing the number of people moving to electric-powered cars with gathering income from them.<\/p>\n

The Chancellor is said to be considering a 3p per mile tax on EVs, as she looks to make up for revenues lost on fuel duty as people shift from petrol and diesel cars.<\/p>\n

\"Rachel<\/p>\n

Rachel Reeves will deliver her Budget on Wednesday (PA)<\/p>\n

News Catch Up – Monday 24 November<\/p>\n

However, she is also said to be adding \u00a31.3bn to the EV buyer subsidy, a scheme which can save buyers of electric vehicles up to \u00a33,750 on their purchase.<\/p>\n

So those buying an electric car can expect to see the initial cost helped by the Government, but the cost of running their battery-powered vehicles may well be going up.<\/p>\n

Tax threshold freezes\"Income<\/p>\n

Income tax return. Photo: Getty<\/p>\n

While the Chancellor appears to have backed away from a much-mooted rise in income tax rates, the money people pay may still increase.<\/p>\n

This is because she may well freeze income tax thresholds at their current rates for a number of years, which would bring people into higher tax brackets as their wages increase in line with inflation.<\/p>\n

The effect is known as \u201cfiscal drag\u201d and could provide the Government with more revenue without breaking their manifesto promises on tax. <\/p>\n","protected":false},"excerpt":{"rendered":"While a rise in the basic rate of income tax appears to have been dispensed with, there could…\n","protected":false},"author":2,"featured_media":593246,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5011],"tags":[1194,9085,1144,16,15],"class_list":{"0":"post-593245","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-northern-ireland","8":"tag-budget","9":"tag-james-mcnaney","10":"tag-northern-ireland","11":"tag-uk","12":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/115611513995991280","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/593245","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=593245"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/593245\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/593246"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=593245"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=593245"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=593245"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}