HM Treasury

This is the full Budget 2025 with supporting and related documents.

28 November 2025Policy paper

Budget 2025 document

26 November 2025Transcript

Budget 2025 speech

This Budget takes the fair choices needed to deliver on the country’s key priorities and takes decisive action to cut the cost of living, bring down inflation and deliver economic stability.

HM Treasury is the government’s economic and finance ministry, maintaining control over public spending, setting the direction of the UK’s economic policy and working to achieve strong and sustainable economic growth.

HMT is a ministerial department, supported by 19 agencies and public bodies.