New research ahead of the Autumn Budget revealed widespread pessimism among Britons, with growing anxiety over potential changes to pensions, inheritance, and taxation.
According to a study of more than 1,100 adults from Unbiased, over half (51%) of respondents said they feel pessimistic about the upcoming Budget on Wednesday 26th November, while 54% feel more negative about their finances than they did a year ago.
The findings showed that middle-aged adults (aged 35 to 44) and over-65s are the most apprehensive, with 66% and 62% respectively expressing concern about the Chancellor’s forthcoming announcements.
The top financial concerns identified by respondents include changes to pension tax relief (58%), a continued personal allowance freeze (48%), property tax increases (46%), inheritance tax reform (40%), and potential adjustments to National Insurance (36%).
The data comes as Chancellor Rachel Reeves prepares to deliver her first Autumn Budget, with expectations of significant tax reforms to address a £30bn fiscal gap.
Possible measures include revisions to inheritance tax, pensions, capital gains, and property levies, alongside a reduction in ISA allowances.
Karen Barrett, founder and CEO of Unbiased, said: “With over half of those polled feeling pessimistic about the upcoming Budget, it’s clear that uncertainty is weighing heavily.
“Now is the time to revisit your pension, tax and estate plans to ensure they’re still working for you.
“Our data shows that pessimism is highest among those aged 65+ and 35–44s. These groups are particularly concerned about inheritance and pension changes. Tailored advice can help you prepare for what’s ahead.”
She added: “Many people expect the Budget to affect their inheritance, and it’s vital to understand how potential changes to gifting rules and estate taxes could impact your family’s future.”
“Whether you’re worried about tax thresholds, property levies or pension relief, speaking to a qualified financial adviser now can help you build a plan that puts you in a strong position to confidently navigate whatever changes are announced.”
