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MoneyWeek - impact of Budget changes based on your age

Journalist: Marc Shoffman, Freelance

ended 11. December 2025

Hi,

 

I am writing a piece for MoneyWeek looking at the impact of the Budget based on your age.

I am seeking views on whether there are particular changes that have an adverse impact on certain generations.

E.g will salary sacrifice changes hit younger generations more than older people as they have had less time to save?

Will property income taxes impact older people more if they are more likely to be landlords?

Are there any other changes that may impact one generation more than others?

 

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Editor
Tony Redondo
Founder at Cosmos Currency Exchange
This Budget manages to penalise everyone, young and old, who work or have worked and been responsible for saving for future rainy days. Older people face new strains on accumulated wealth due to a 2% tax rise on property income and dividends, which particularly affects retirees relying on these sources to supplement pensions. The new High Value Council Tax Surcharge on homes worth over £2 million further burdens long-term homeowners who are often asset-rich but cash-poor. Meanwhile, younger generations are constrained by stagnant earning power and limited saving options. The continued Income Tax threshold freeze erodes gains from promotions and inflationary pay rises, while the upcoming £2,000 cap on National Insurance relief for salary sacrifice pension schemes curbs long-term growth for early-career savers. Additionally, cutting the Cash ISA allowance from £20,000 to £12,000 hampers younger people saving for immediate goals like a home deposit.