MAd Money September 2025

Welcome to our latest issue.

The National Institute of Economic and Social Research (NIESR) has issued a stark warning. If no action is taken, the government is likely to miss its fiscal rule, which requires that day-to-day spending is covered by tax receipts of significant £41.2 billion by 2029/30. To stay on track, Chancellor Rachel Reeves will need to implement further tax increases. This raises important questions about the policies being considered and who might face the greatest financial impact. Turn to page 09 to read the full article.