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'My gut is telling me to hold back': wary agents put plans on hold as chancellor's latest Budget looms

Agents
Gary Noakes
4 November 2025

Already feeling the pinch from increased National Insurance costs and a rise in minimum wages, the sector braces for make-or-break Autumn Statement. Gary Noakes, Jennifer Morris and Harry Kemble report.

Chancellor Rachel Reeves recently visited the easyJet CAE Simulator Centre at Gatwick airport
(Credit: Simon Walker / HM Treasury / Flickr)

In the driving seat: chancellor Rachel Reeves on a recent visit to the easyJet CAE Simulator Centre at Gatwick airport (Credit: Simon Walker / HM Treasury / Flickr)

There's the best part of another month yet to go until chancellor Rachel Reeves delivers her Autumn Statement, but already, the industry and consumers alike await it with trepidation.

A black hole of around £22 billion must be filled and money found from somewhere. And the chancellor certainly isn't making the positive noises businesses and consumers are really seeking.

In a Downing Street speech on Tuesday (4 November), Reeves refused to rule out tax rises in her Budget, despite a Labour manifesto pledge not to hike income tax, VAT or National Insurance, warning the world was continuing to "throw more challenges our way".