That of Rachel Reeves first labor budget in 14 years He implemented several policies that could affect workers’ disposable income, after promising to protect them from tax increases.

Whether it’s additional taxes on employers, which are likely to be passed on to workers, or an increase in the bus fare cap from its current rate of £2 to £3, many Working Brits will still be in shock from the decisions taken.

Almost half (48%) of Brits said the Budget had made them feel more concerned about their personal finances, according to research by Ipsos the following day.

For comparison, only 15 percent feel more reassured. But can the party do anything to win back disappointed citizens? I I spoke to experts to find out.

U-turn on family allowances

One popular policy Labor could reconsider to win favor is tackling what some have called an “inherent injustice” in the world. family allowance systemwhich the outgoing Conservative government had committed to tackling.

Former Chancellor Jeremy Hunt had proposed reforming the collection of family allowances for high incomes (HICBC) to close the eligibility gap between dual-income and single-income households, but Reeves said she would not pursue those plans due to the “significant budgetary cost of $1.4 billion pounds sterling.”

The HICBC requires parents earning over £60,000 to start repaying child benefit, at a tiered rate. But earlier this year Hunt said the government would consult on reforming how the policy works so that it is based on household income and not individual income, with the reform due to be implemented in April 2026.

Shaun Moore, personal tax expert at Quilter, said it could be helpful if Labor found the funds to continue the consultation “given the toxicity associated with current policy”.

He said I: “The risk of continued reputational damage is significant, especially as high-profile campaigners like Martin Lewis continue to highlight the injustice of the current system. »

Under current rules, dual-earner households where each individual is just below the threshold can still receive full benefits, while single-earner households slightly above the threshold face reductions or a loss of support.

Mr Moore added: “This disparity could be addressed by pegging eligibility for child benefit to household income below £120,000, rather than individual income, which is unfair to many high single-income households. »

Increase the lifetime ISA ownership limit

There have been calls for Lifetime ISA (LISA) ownership limit will be increased in recognition of the fact that it has not kept pace with house prices.

LISAs are designed to help people aged 18 to 39 buy their first home or, much less popularly, save for retirement. Savers receive 25 per cent government help when using the funds to buy a house, but they are not allowed to use the money to buy a property worth more than £450,000.

If they don’t use the money to buy a house below this threshold, but withdraw it before retirement, they receive a penalty. This means it is taken after buyers receive the bonus, so if you save £1,000 and get a £250 bonus you have a total of £1,250, but you will be hit with a £312.50 penalty when withdrawing.

Due to rising house prices, it is becoming increasingly difficult for people to buy a house using LISA without being hit by the penalty.

David Hollingworth of L&C Mortgages said that while many are still able to buy homes for less than the LISA limit, some would struggle.

“Regional variations in house prices could mean that some come up against eligibility requirements. An extension could therefore help some.”

In August, the average price of a house in London is £543 308according to Halifax figures, for example.

More generous tax breaks for homeowners

While it seems unlikely, Mr Hollingworth said introducing more generous tax breaks on mortgage interest would give landlords a boost and could help mitigate the potential for further rent increases.

If a homeowner pays £9,000 in mortgage interest they can claim a tax credit of £1,800 – 20 per cent of the cost, but under the old rules they could claim relief at their marginal rate – so a rate higher tax. The payer could claim 40 percent relief.

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Mr Hollingworth said: “Buy to let has once again been hampered by higher stamp duty on additional properties, so landlords will feel even more bruised.

“They have already had to adapt to higher interest rates, stricter lending standards and mortgage interest tax relief limited to the base rate.”

The Budget increased the additional stamp duty for those buying second homes from 3 per cent to 5 per cent with immediate effect, hitting landlords looking to buy rental properties.

It is payable in addition to standard rates of stamp duty if you already own a residential property worth £40,000 or more and are purchasing another.

Mr Hollingworth added: “The previous government talked about removing capital gains tax on sales made by landlords to the existing tenant.

“This would reduce the tax cost for the landlord, but could result in a better price for the tenant to help support the first-time buyer market.”

“The fact that the real estate capital gains tax has not been increased has been a relief for property owners, so a reduction or removal in some circumstances seems distant.”

A winter bonus for retirees to replace the winter fuel allowance

In July, Ms Reeves announced that the Winter Heating Allowance – payments made to all pensioners each winter worth £200 to £300 – would be means-tested, so only those who benefit pension credit would benefit from this.

As a result, millions of pensioners in England and Wales will lose this payment.

Former pensions minister Baroness Ros Altmann said the chancellor could have used the Budget to reverse benefit changes.

She said I: “Now, it is difficult to see the government reversing this decision. The budget was the last chance to soften the blow and perhaps expand eligibility or keep the payments for this year, but perhaps make them taxable.

“This year she could have even announced a bumper Christmas bonus for retirees, but that opportunity was also lost. I think the government is prepared to bear the pain this year rather than turn around.”

Subjecting pensions to reduced rate inheritance tax

One of the most talked about measures announced in the Autumn Budget was the inclusion of pensions in net inheritance tax (IHT).

From 6 April 2027, most unused pension funds and death benefits will be included in the value of a person’s estate for IHT purposes. This has potentially huge implications for pension schemes.

Although most people won’t be affected, the change could wreak havoc on the finances of those who are.

They may need to reorganize their savings and change their planned sources of retirement income in order to remain tax efficient.

Rowan Morrow-McDade, tax director at chartered accountant Alexander and Co, said the government could make pensions subject to IHT at a reduced rate.

IHT only begins to apply when an estate reaches a certain size. Your estate may include any money held in cash or investments, property and other assets.

Up to £325,000 can be passed on with no IHT due. This is called the “zero rate bracket”. Anything over this amount can potentially be taxed at 40 percent.

Mr Morrow-McDade said one way to win back the general public worried about the decision would be to reduce the rate to 20 per cent.

He said: “Labor has introduced a reduced rate for business property relief and agricultural property relief, both at 20 per cent.

“Pensions have been exempt from inheritance tax since 2006 to encourage people to save for retirement and not rely on the state. Nearly 20 years later, after people were encouraged to save by this tax break, it was removed. This moves the goalposts.