MD, Karl Pemberton has written to Chancellor Rachel Reeves ahead of her November Budget, urging her to prioritise stability, fairness, and confidence in the wake of last year’s fiscal challenges.
We recently conducted a poll of 1,000 of our clients across the UK to understand their expectations and concerns ahead of the Budget. MD Karl Pemberton said the findings reveal widespread unease about the impact of recent economic policy and the potential for further tax rises.
The poll showed that three-quarters of clients feel their financial situation has worsened since last autumn’s Budget, with many citing reduced investment, job insecurity and the squeeze caused by higher National Insurance contributions. Only one in ten clients supports further tax rises, while almost half would like to see cuts and many others simply call for greater stability and clarity. Two-thirds of clients also oppose proposals to include unused pensions within Inheritance Tax from 2027, describing it as unfair and damaging to the principle of saving for the future.
In his letter, Karl warned that the uncertainty created by recent decisions has eroded trust and made it harder for individuals and businesses to plan ahead.
Karl said: “The rise in employer National Insurance last year was a real shock. It affected employees through reduced take-home pay, families facing higher living costs, and businesses trying to manage increased overheads. That ripple effect has impacted business confidence and made people think twice about spending, saving, or investing for the future. Our clients understand the need to raise revenue responsibly, but they want to see policy that restores belief, not more uncertainty.
“This coming Budget offers a real opportunity to reset the tone. By focusing on stability and fairness, the Chancellor can rebuild trust, reward those who work and save, and help businesses and households plan with confidence again.”
The firm has urged the Chancellor to avoid further measures that undermine saving and investment, instead focusing on sustainable ways to strengthen financial resilience and regional growth, particularly in the North East.
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