Chancellor of the Exchequer, Rachel Reeves MP, has delivered the Government’s Autumn Budget Statement.
Adam Bovingdon, Managing Director – Property Development at United Trust Bank (UTB), comments on the changes with reference to housebuilding and the property market.
“After a long wait and an early glimpse from the OBR, the 2026 Autumn Budget Statement is now behind us. Whilst it brought no major incentives for housebuilding, clarity is better than the uncertainty that has loomed over recent months. The so-called ‘mansion tax’ has grabbed headlines and would have created far less news without this emotive nickname. If it was called what it is, an increase in council tax for high value homes representing less than 1% of households in the UK, most people would have dismissed it as largely irrelevant to the general public.
“Hopes for a revised SME Help to Buy scheme and a stamp duty break for first-time buyers have faded, yet some form of stimulus would help to encourage the market and could be justified as an investment for growth.
“Data from the Home Builders Federation (HBF) shows the previous Help to Buy scheme delivered strong returns. Many repaid loans generated about 9% uplift, early redemptions brought millions in interest, and the scheme is projected to return more than £2bn to the Exchequer. For a government focused on growth and committed to housebuilding, reintroducing a targeted Help to Buy initiative would be a welcome and logical step.”
Brian Todd, Deposits Director at United Trust Bank (UTB), comments on the changes with reference to the new Cash ISA limits.
“The reduction of the annual Cash ISA allowance to £12,000 for the under 65s announced in the Budget is a significant blow to savers. For eight years, the allowance has remained frozen at £20,000, eroding its real value as inflation steadily chipped away at purchasing power. Now, rather than addressing this imbalance, the government has chosen to cut the limit for much of the population, a move that feels counterintuitive at a time when households are seeking financial security.
“Cash ISAs have long been a cornerstone of personal finance in the UK. They offer simplicity, low risk, and tax efficiency qualities that resonate with millions of savers. While technology and competition have transformed the Stocks and Shares ISA market, making investing more accessible and affordable, many consumers still prefer the certainty of cash. For these individuals, the reduction in allowance is not just an adjustment; it’s a tangible restriction on their ability to protect their savings from tax.
“What’s needed now is not further complexity but clarity. The ISA landscape has become increasingly fragmented, with multiple products and overlapping rules that confuse rather than empower consumers. A streamlined system that prioritises simplicity and flexibility would better serve savers and restore confidence in tax-free saving.
“Rather than penalising those who choose security over risk, policymakers should focus on modernising ISAs to reflect real-world needs. A single, unified allowance across all ISA types, indexed to inflation, would be a logical starting point. Savers deserve a system that works for them, not one that adds barriers to prudent financial planning.”