The date is in the diary. The Autumn Budget 2026 preview starts with confirmation that Chancellor John Healey will deliver his first Budget on Wednesday 28 October.
That is around four weeks earlier than last year’s Budget. However, there is still plenty of time for speculation about what might be included.
Prime Minister Andy Burnham and his revised cabinet have already had a busy couple of weeks. There are now a few areas worth keeping an eye on. These range from the personal allowance and energy bills to the State Pension and the Government’s fiscal position.
What could feature in the Autumn Budget 2026 preview?
The personal allowance
The personal allowance is already part of the conversation.
During his Makerfield by-election campaign, Burnham spoke about the frustration he had heard around the personal allowance.
He has since been more cautious. There is currently no commitment to make a change, but the Government will consider the issue as part of the Budget.
The freeze on the personal allowance currently runs until April 2031. Any move away from that position would therefore come at a cost to the Treasury.
The personal allowance applies UK-wide. However, Scottish Income Tax rates and bands apply to non-savings, non-dividend income.
The VAT cut on electricity bills
Another area to watch is the temporary VAT cut on household electricity bills.
This was one of Burnham’s first “breathing space” announcements. The Government estimates it will take around £45 off the yearly Ofgem price cap from October.
The cut will run for six months, taking it through to March 2027. We may hear more from Healey about whether the Government plans to extend it beyond that point.
State Pensions and tax
There is also an outstanding question around the tax treatment of State Pension income from April 2027.
At her last Budget, Rachel Reeves said people whose only income is the basic or new State Pension would not have to pay small amounts of tax through Simple Assessment.
It sounds fairly straightforward, but the detail has proved more complicated. Tax experts have raised several questions about how the proposal would work in practice.
For now, we are still waiting for more information.
The Government’s fiscal rules
Perhaps the biggest question is how much room the Chancellor has to work with.
When confirming the Budget date, Healey said it would meet the Government’s fiscal rules.
However, the latest estimates suggest that more than half of the fiscal headroom available in March has since disappeared. The economic impact of the Iran war has contributed to that pressure.
This could leave the Chancellor with some difficult decisions. It has also added to speculation around possible tax rises.
Looking ahead to 28 October
There will no doubt be plenty more speculation between now and Budget day.
For now, these are some of the areas worth watching. If you are considering any pre-Budget planning, it makes sense to review your position sooner rather than wait for the Chancellor’s announcements.
The full Budget 2026 announcement is available here.