The government's economic plans were thrown into chaos today as Chancellor Rachel Reeves' first major Budget was leaked hours before its official presentation to Parliament. The unprecedented security breach revealed that millions of British workers face significant tax increases over the coming years, sending financial markets into turmoil.
Budget Details Exposed Prematurely
In a deeply embarrassing moment for the Treasury, key details of the Autumn Budget 2025 were circulating among MPs and journalists before Chancellor Reeves had even stood up to deliver her speech. The leak exposed plans that will see one in four workers pushed into higher tax brackets by 2030, representing a £30 billion revenue increase for the Treasury.
The Chancellor was reportedly seen reading news of the leak on an MP's phone moments before she was due to address the House of Commons. Treasury officials scrambled to contain the damage as sensitive documents detailing the government's tax and spending plans spread rapidly through Westminster.
Market Reaction and Political Fallout
Financial markets reacted sharply to the leaked information, with the pound experiencing significant volatility and government bonds (gilts) on a "rollercoaster ride" as traders digested the implications of the proposed tax changes. The Budget leak fiasco created uncertainty that rippled through London's financial institutions.
Chancellor Reeves blamed the Office for Budget Responsibility for what she called a "deeply disappointing" error that led to the premature publication of Budget documents. However, opposition parties were quick to condemn the security lapse and the substance of the revealed measures.
Key Budget Measures Revealed
Among the leaked measures was confirmation that fuel duty would remain frozen with the 5p cut extended, providing temporary relief for drivers. However, documents indicated that "staged hikes" are planned from September next year, potentially increasing costs for motorists and businesses.
The leaked information also revealed that the Chancellor is breaking several tax promises made during the election campaign, with working people facing an additional £26 billion tax burden over the forecast period. This represents a significant shift from pre-election commitments and has drawn criticism from across the political spectrum.
The Budget leak represents one of the most significant security breaches in recent Treasury history and raises serious questions about the government's ability to manage sensitive economic information. As markets continue to react and political pressure mounts, Chancellor Reeves faces an uphill battle to regain control of the economic narrative.
