Smart Money Newsletter

Welcome to the September/October 2025 edition of the Smart Money Newsletter.

Inside this issue, we look at how 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 a 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. From workers’ wages to pension contributions, many groups could be most affected by these changes.

Other topics in this issue include:

• Passing on wealth through trusts
• Do you have a safety net for you and your loved ones in case the unforeseen happens?
• Do you have multiple pension pots to keep track of?