URGENT UPDATE: As Liverpool braces for the highly anticipated Autumn Budget 2025 announcement from Rachel Reeves today, residents are expressing their hopes and concerns regarding the future of their city. With just hours before the Chancellor’s address, the public is eager to see how Labour will tackle the pressing issues of taxation and public services amidst a looming fiscal deficit.
The Budget is being described as a potential turning point, following the Office for Budget Responsibility (OBR) revealing a financial black hole of around £20 billion, a significant improvement from previous estimates of £30-£40 billion. This has fueled speculation about possible tax increases, leading to a mixed mood among Liverpool’s residents, many of whom are struggling with the rising cost of living.
On the streets of Liverpool city center, students and workers alike voiced their opinions on Labour’s economic management. Connor O’Sullivan, a 21-year-old student, stated, “The economy is not in a great state at the moment. The way they’re cutting certain services and keep blaming it on the previous Tory administration is just not good enough.”
Others, including 18-year-old student Joshua Smith, showed a more understanding perspective, saying, “They’ve been put in a really difficult position. I think they just need a bit of time.” However, he emphasized the need for immediate action on key issues.
The cost of living remains at the forefront of concerns, particularly among students. Emily Weston, aged 20, lamented, “Everything is so expensive at the moment for what it is and as a student it’s not great.”
Taxation is a hot topic, with residents divided on the issue. Melanie Berry, aged 28, voiced frustration over high tax rates, stating, “What’s the point in working so hard and trying to be as successful as you can for them to take it all off you?”
In contrast, others recognize the necessity of taxation for funding essential services. As Joshua Smith noted, “Realistically, everyone has to be taxed… If we can try and increase the tax for people with higher incomes, you might get a bit more money coming into the public services.”
Despite differing views on taxation, there is a clear consensus on where the funds should be allocated. Many residents called for increased investment in education and the NHS, with some advocating for lower transport costs.
One thing is certain: Liverpool’s citizens are eager to see if Labour can deliver on its promises. The Budget announcement later today could set the tone for future policies and impact daily lives significantly.
Stay tuned for live updates from the all-important Budget announcement as Rachel Reeves takes to the dispatch box this afternoon. Follow our live blog for the latest developments as they unfold.
