Today the Chancellor of the Exchequer announced the details of the Budget 2025, laying out the government’s planned spending priorities for next year.
Today’s Budget brings changes that will affect many people’s everyday lives. We see this in our crisis services daily, with over 50% of people we support them telling us that money finances is the main cause of their crisis.
The continued freeze on income tax thresholds means many people will be pulled into higher tax bands over time. At a time when we’re all being impacted by the cost-of-living crisis, this will add extra pressure for people who are already facing really difficult decisions.
There is, however, some welcome support from the Budget. The increase in the National Living Wage and practical freezes on prescription charges and public transport costs will make a difference to many people, as will the removal of the two-child benefit cap.
We also welcome promises of 250 new community health centres, which would bring care closer to communities, along with £300m investment in technology to improve patient services.
Kevin Berry, Everyturn’s Executive Director of Finance & Performance, commented:
“Financial pressures have a real impact on people’s mental health and wellbeing; we see this every day. There are some welcome measures in this Budget, but they will only stop the increase in the cost of living, not reduce it, thanks to record inflation over the last few years.
“We were pleased to see the promises of maintained investment in technology and community-based services, but we’ll have to keep an eye on the details.
“What remains unclear is how far the Budget will strengthen mental health services. We’re seeing increasing demand on our services, which need dedicated investment to ensure people access the right support, when and where they need it most.”
