The Institute for Fiscal Studies (IFS) has recently launched its ‘Green Budget’ for 2025. This document gives insights into speculation around the upcoming Government Budget in 2025 and the full document can be accessed here: https://ifs.org.uk/sites/default/files/2025-10/Final_The_IFS_Green_Budget_2025_full_report_amended%202.pdf A shorter summary can be found here: https://ifs.org.uk/sites/default/files/2025-10/IFS%20Green%20Budget%202025%20in%20summary_final_revised.pdf Conclusions from the IFS are that this budget will be a tricky one for the Chancellor to operate and that tax rises are likely. Rachel Reeves herself has said higher taxes on the wealthy are ‘part of the story’ for November budget saying that those with the broadest shoulders should pay their fair share of taxes. “Growth is decelerating and expected to slow further in the second half of the year, and unemployment has been on an upward trend since mid 2022. Meanwhile, inflation remains considerably above the Bank of England’s 2% target, making the Monetary Policy Committee cautious about cutting rates for fear of de-anchoring expectations and embedding structurally higher inflation. A substantial fiscal consolidation will very likely be needed at this Autumn’s Budget if the Chancellor is to continue to meet her fiscal rules. We do expect economic activity to pick back up, providing a bounce in 2026 and early 2027. Inflation should fall back to target relatively quickly as recent price-level shocks dissipate against a backdrop of both a loosening labour market and broader economic slack. This should allow for the further monetary easing that is required to bring down unemployment and maintain inflation at 2% over the medium term” [ZM1] NFDA will soon be publishing its own speculation document, with some greater focus on how it could affect Car dealers.