Here are 5 important things happening in the UK today, Wednesday (26 November 2025):
- It’s Budget day: Chancellor Rachel Reeves will outline her upcoming budget in parliament at 12h30 today. The Chancellor has all but confirmed a range of tax increases – including hikes on properties, electric vehicles, and pension contributions. Reeves is also expected to scrap the two-child benefit cap, meaning larger families can claim more means-tested benefits.
- New minimum wage announced for the UK: Millions of people are set to get a pay rise from April due to an increase in the minimum wage, the government has announced ahead of Wednesday’s Budget. The hourly rate for over-21s will rise by 50p to £12.71, with workers aged 18-20 seeing an 85p rise to £10.85, and under-18s and apprentices getting 45p more to £8 an hour. Chancellor Rachel Reeves said 2.7 million people will benefit from the increases, which will take effect from April next year. However, businesses have warned that further increases to the minimum wage could result in hiring freezes. [BBC]
- 50 higher education providers at risk of exiting the market in England: 50 higher education providers in England are at risk of exiting the market within the next two to three years, MPs on the House of Commons education committee have been told as part of their inquiry into university funding and the threat of insolvency. The evidence follows last week’s gloomy forecast from England’s higher education regulator, the Office for Students (OfS), which warned that three in four universities were likely to be in the red next year as financial turmoil continues in the sector. [Guardian]
- London councils hit by cyber attack: Multiple London councils have been hit by a cyber attack, with the potential for residents’ data to have been compromised. The Royal Borough of Kensington and Chelsea (RBKC) and Westminster City Council (WCC) – who share a number of IT systems – noticed the incident on Monday and have informed the Information Commissioner’s Office – a step usually taken when data is compromised. [Sky News]
- On Wednesday, Oil was trading flat at $61.60. The pound is trading at $1.32, €1.14, and ¥9.35.
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