What you need to know about the Autumn Budget
Reading time 5 minutes
At a glance:
A proposed change to the Cash ISA allowance for under 65s will no longer be happening.
The Government announced the Your First Home scheme, which is designed to help first time buyers get onto the property ladder.
20 million households will receive a £100 energy bill payment this winter.
What is the Autumn Budget?
The Autumn Budget is a statement to Parliament explaining how the Government plans to make financial changes. This includes rules around savings, tax, pensions and mortgages.
Some changes happen straight away, some later in the year and some when the new tax year begins (6 April 2027).
Changes announced in the Autumn Budget are useful to know so you and your finances can be prepared for the future.
Changes that could impact your finances
Reversal of the Cash ISA allowance change
It had previously been announced that the Cash ISA allowance was being cut from £20,000 per tax year, to £12,000 per tax year, for the under 65s.
This change has now been reversed. The Cash ISA allowance will remain at £20,000 per tax year.
This change has now been reversed. The Cash ISA allowance will remain at £20,000 per tax year.
A new First Time Buyer ISA
The Government has announced plans for a new First Time Buyer ISA. The account is expected to help people save towards a deposit for their first home. Full details haven't been announced yet.
Your First Home scheme announced
The Government has announced plans for a first time buyer scheme called Your First Home.
The scheme is designed to help first time buyers get onto the property ladder. Potential buyers with a 2.5% deposit can get a 20% equity loan to help them get a mortgage.
£100 energy bill payment
Living in a home in council tax bands A-D? You will receive a £100 ‘household energy payment' this winter for help with energy bills.
Standing charges scrapped
Standing charges – fixed daily fees applied to gas will be removed. The government says this may save 60% of households an average of £45 per year.
Subscriptions will be easier to leave
New rules about subscriptions will come into place in January 2027. People in the UK lose £14 a month to unwanted subscriptions. Changes will mean it has to be as easy to leave a subscription as to start one.
Companies will need to offer a cooling-off period and let users cancel after a trial, or before signing a long-term contract.
The content on this page is for reference. It is not financial advice. For help with money issues, try MoneyHelper.
