A Budget that failed to reassure

In our latest client survey, we asked how people felt about the Autumn Budget. The results show a clear sense of dissatisfaction, alongside broader concern about the direction of government policy and its impact on personal finances.

Overall reaction to the Budget was negative, with almost half of respondents, 48%, saying they felt negative about it and a mere 2% saying they thought it was positive.

Several respondents expressed frustration with the government’s approach and a lack of confidence in economic leadership.

One client wrote, “It’s evident the workers of the UK are getting hit hard and paying the price of government policies.” Others questioned the broader economic direction, including the view that “taxation is not the way to encourage economic growth.”

Concern was focused mainly on the impact of the Budget on savers and investors. When asked which measures would affect them most, 61% said increases in tax on savings and dividends, while 14% highlighted the reduction in the cash ISA limit. These concerns were echoed in comments such as, “… not happy with the rise in tax on rental income,” and “bad for business.”

Despite dissatisfaction with the Budget, confidence in personal financial positions remains relatively steady. Around 66% of respondents said their confidence in their financial future has stayed the same compared with the previous quarter. Equal proportions, 17% each, said they feel more confident or less confident. Several comments drew a distinction between views on government policy and individual circumstances. One respondent said, “can’t see how anything has changed,” while another noted, “I remain in belief that my investments are of a strategic nature and that, through peaks and troughs, my money will still grow with Active.”

The survey also asked what advice people would give their younger selves. The strongest theme was the importance of planning earlier, particularly around pensions. More than a third of respondents said they would make pension planning a priority.

Taken together, the results suggest a clear divide. Confidence in government policy appears weak, particularly where savings, taxation, and growth are concerned. At the same time, many clients continue to feel relatively stable in their own financial position, especially where long-term planning is already in place.

Karl Pemberton, our managing director, said: “These responses show how important it is to separate political uncertainty from personal financial planning. Policy will change and confidence in it will rise and fall, but having a clear strategy helps people focus on what they can control and make informed decisions over the long term.”

If you would like to talk through how the Budget affects your own plans, or if you would like reassurance about your next steps, we are always happy to help.