Martin Lewis has identified three positive outcomes from the Budget, despite acknowledging a 'lot of losses'. The financial expert's analysis follows Chancellor Rachel Reeves' second Budget on November 26, 2025. He noted potential advantages in savings, energy bills, and telecom consumer protections.
On savings, Lewis pointed to a 'carve out' for over-65s regarding cash ISA limits. From April 2027, the annual cash ISA subscription limit will drop to £12,000 for those under 65, but older savers will be exempt. Lewis said he argued for this exemption with the Chancellor, as older people hold most cash ISA savings and would otherwise be unfairly penalised.
In energy, Lewis welcomed the shift of levies from electricity bills to general taxation. He said this move, which he had called for, makes the system more progressive. A senior Government official told him the electricity unit rate should fall by about 3.4p per kilowatt hour and gas by 0.3p from April 2026. Lewis warned he would campaign if suppliers do not pass on the savings to customers on fixed deals.
Finally, Lewis highlighted planned consumer protections in telecoms, following what he called an 'outrageous' price rise by O2. He said the Chancellor was expected to write to Ofcom about the issue, though details were not in the Budget document itself.
