EXCLUSIVEFrom families and business owners, to single parents, wealthy entrepreneurs and pub landlords, MailOnline readers across Britain give THEIR verdict on today's budget and what it means for them

Chancellor Rachel Reeves has today unveiled Labours first Budget in 14 years, announcing a massive £40billion tax bomb on Britain.

Ms Reeves warned beforehand that difficult decisions would be made as Labour hikes taxes in a move Prime Minister Sir Keir Starmer says is to prevent devastating austerity.

After weeks of speculation and leaks, Ms Reeves today became the first female Chancellor to deliver the UK budget - as she outlined Labours plan to rake in a £40million a year extra in one of the biggest ever raids at a fiscal event.

Any Chancellor standing here today would face this reality, and any responsible Chancellor would take action, she told the Commons. That is why today, I am restoring stability to our public finances and rebuilding our public services. 

Families, landlords, pub owners, entrepreneurs and pensioners have all raised major concerns over the Budget - including employers national insurance, stamp duty and the minimum wage.

MailOnline and the Daily Mail have spoken to a series of people across Britain to get their views on the Labour governments first Budget since March 2010.

It comes as:

• Rachel Reeves today announced a massive £40billion tax raid;
• The Chancellor confirmed that the minimum wage will be increasing by 6.7 per cent to £12.21, while those aged 18-20 will get a 16.3 per cent rise to £10 an hour;
• Employers National Insurance will rise by 1.2 per cent to 15 per cent from April 2025; Threshold at which businesses start paying lowered from £9,100 to £5,000;
• Fuel duty has been frozen and will maintain the 5p cut for another year; 
• An £11.8billion compensation plan was laid out for those affected by the infected blood scandal; another £1.8billion will be provided to those caught up in the Post Office Horizon scandal;
• £1billion will be provided to extend the Household Support Fund from next year;
• The Carers Allowance will be raised to the equivalent of 16 hours at the National Living Wage per week;
• Inheritance tax thresholds are frozen for a further two years from 2028 to 2030 

PUB OWNER: The death of The Great British Pub

• Name: Simon Delaney
• Age:  59
• Lives : Manchester
• Job: Pub landlord

Simon Delaney, who has owned The Firbank Pub and Kitchen, in Wythenshawe, Manchester, for 30 years, says the rise in employers National Insurance Contributions and National Living Wage will cost his business an extra £2,000 a month.

The 59-year-old told MailOnline: Its definitely not a budget for pubs or small businesses like mine. The National Living Wage going up, not sure where that money is going to come from. Employer national insurance coming up, again where does that money come from? We are already struggling to break even.

He added: Theres a little bit of a cut in beer duty, its not enough. And they have extended the rate relief, but its only going to be at 40 per cent. Im not sure whats going to happen when April comes.

Speaking about the impact on his business, Mr Delaney said: Were already in a situation where its making it difficult to make the business doable. 

The government will put up the National Minimum Wage because that looks good for the government, it gets them brownie points. 

It doesnt cost them anything and its a bit of a red herring because on the last increase, all the employees think its great. First of all, where does that money come from? When were really really working on very low profit margins some weeks, not even breaking even, where does that money come from to pay an increase in wage. 

And its not just the people who are on the lower wage. Its everybody, you have to protect your managers, your supervisors, your chefs. 

We want to pay people for the job that they do. But weve also got to be realistic that there isnt actually any money in the pot to do that.

Mr Delaney said it would put a massive strain on the business and that it would be ridiculous for people just starting in the industry to be on the same wage as those with years of experience.  

Speaking about whether he feels his business is being supported, he said: The way I look at it, and this is the previous government and this government, I dont think they value the great British pub for what it does within the community.

Theyre just going to continue to put the pressure on and extra nails in the coffin.

Mr Delaney also says that we need to lower the duty, adding: Weve been shouting that I think they did it in France. With the VAT. They lowered the VAT for hospitality, and its thriving. What cant they see, if we thrive, we take on more staff, they get more tax, more national insurance. 

I think what theyre very good at doing is, and this is every government, they do things that will make them popular and putting the national minimum wage will make them very, very popular, because people wont see through it. 

What they wont see through is the small businesses where, you know, Im only a very small business, and I think the national minimum wage cost me 600 pounds extra a week. 

You cant pass that on, because before we know were already on £6.20 a pint now, and it was only a few years ago we were on £3, and thats what you know people say to me.

Mr Delaney fears that he will have to increase everyone elses wage with a rise in the National Living Wage. 

Before you know it, youre going to have pot collectors that are nearly earning as much as your supervisors, your managers and your chefs, so it really is worrying, he said.

And youve got the property developers who are like vultures flying around, waiting for the pubs to close, to turn them into a Tesco to turn them into flats. And thats horrible.

MILLIONAIRE: Ive left the UK because of the Budget

• Name: Bassim Haidar 
• Age: 53
• Lives : Dubai
• Job: Property mogul 

Millionaire Bassim Haidar left the UK with his family last month due to concerns over the budget and is looking to sell the £80million property portfolio he built up in the capital.

The 53-year-old, who moved to London in 2020, was a non-domiciled resident and decided to leave Britain to avoid paying millions of pounds in tax on his overseas income.

He has relocated to Dubai with his wife and three children, aged 14, seven and one, due to the uncertainty following former chancellor Jeremy Hunts announcement that the non-dom tax regime would be scrapped from April 2025.

Mr Haidar, who was born in Nigeria but has Lebanese citizenship, believes high-net-worth individuals like himself are being taken for granted and it is the UK that will be worse off when millionaires decide to leave.

My biggest concern was tax on global assets and inheritance tax on global assets, he said.

In July, when we started to hear about the taxes and the uncertainty I decided to leave because no one likes uncertainty. The one thing I can control is my movement.

Non-dom was a thing for over 200 years and that was taken away instantly. There is an underestimation on how flexible non-doms are and we can easily move.

They have always been protected and the main reason we were invited. To then take that away, youre telling us we have to leave and we got the message loud and clear.

He said he was not prepared to wait for the budget to be announced and needed to take action now.

Mr Haidar owned more than 10 homes in central London, including a £20million five-bedroom flat in Chelsea, but he is now selling his UK assets.

Look at the treasury tax collections from high net worth people. It is going to backfire on Labour, he said.

I am in Dubai and can see the influx of Brits relocating here. Unfortunately the UK is going to lose out.

I invested well over £80million and now I am selling all of my properties. It is never going to repeat itself again.

Most non-doms I know have left or are in the process of leaving. They have relocated to Dubai, Monaco and Geneva.

He added: There are smarter ways to get more taxes. Dont get me wrong I am happy to pay more taxes but when you are trying to invite non-doms to build businesses and who have paid in, taxing them on income abroad is highly unfair.

Mr Haidar, owner of multi-sector conglomerate BH Holdings which generates revenues of £1.2billion, insisted the UK should follow the example of Italy.

The European country has a flat tax on worldwide income of £200,000 for high-net-worth individuals who transfer their tax residency there.

If the government wants to raise more taxes, charging non-doms £200,000 would raise double what they are expecting, he claimed.

He said it makes a lot of sense for his family to leave the UK in order to protect their future wealth.

SINGLE MOTHER: We are forced to use food banks

• Name: Ragean Furness
• Age: 36 
• Lives : Cheshire
• Job: Full-time carer

Raegan Furness, 36, is a full-time carer to daughters Amelia-Star, 12, who has ADHD, and Kacie-Rae, eight, who has cerebral palsy and uses a wheelchair. 

The single mother, from Macclesfield, Cheshire, claims universal credit as well as disability living allowance (DLA) for both children. 

But she said the whole family have had to rely on food banks, as the payments dont cover their food, travel, and bills.

FAMILY: Our necks are on the chopping block 

• Name: Sarah Dawood
• Age: 46
• Lives : Essex
• Job: Landlord & small business owner

As a mother, a landlord and a small business owner whose partner works for the emergency services, Sarah Dawood told MailOnline of the budget: Our necks are on the chopping block.

Ms Dawood, who has a four-year-old son and a 24-year-old daughter, has taken umbrage with Sir Keir Starmer suggesting landlords are not working people.

I do really take issue with that, because I dont work your traditional 9 to 5. Its probably more 5 to 9 in terms around being a mum and everything else.

Born to a family of immigrants, Ms Dawood, 46, grew up in an East London council flat and went to a local comprehensive school.

I genuinely had nothing, she said. And my parents were both working people, and we didnt have a lot.

I left home, and I got a job as a junior in an estate agent, and I just worked, and I was very fortunate in that.

I saved very hard to to buy a property. In actual fact, my first property I bought because at the time, it was cheaper to pay a mortgage and to rent. And then I went on from there and started to invest in property.

But after amassing a portfolio of property, Ms Dawood, who moved out of London to Essex in 2020, feared a rise in inheritance tax would tarnish the legacy she leaves for her children. 

This is something that I am now having to go to speak to an advisor about, because my through my property portfolio, this would massively impact my children, she said.

Im going to have to sit down with an advisor and look at ways in which we can mitigate the impact, because the first thing you work for is to try and make a better life for yourself and your family, and the second thing is to make sure that you leave them with something so that they can continue.

You want to leave your family a legacy and all the things that you work hard for, you can pass on to your loved ones. To see that a lot of that might be swallowed up in tax is soul destroying at times.

Ms Dawood was also fearing the worst from hikes in capital gains tax and employers national insurance.

I was looking to sell a property in the New Year after April when my mortgage fixed term comes to an end.

But now Im looking at whether or not the impact of the increasing capital gains tax is going to prevent me from doing so.

Ms Dawood, who also owns a small utilities company, added: I am about to start a new business and I will need staff. And the rise in the national living wage is obviously going to factor in as a new business and employer on my ability to be able to take on staff.

I appreciate, living costs are high, so they do need to come up. But from a business and the employers national Insurance, it will make it very difficult for me to take on a staff member in the early days.

 ENTREPRENEUR: Everybody is going to be affected 

• Name: Carol Evans
• Age: 56
• Lives: Worcestershire
• Job: Consultancy owner

Carol Evans, a 56-year-old entrepreneur who has owned multiple businesses over the last 20 years, said her greatest concern is the change in the employers National Insurance.

Ive got one client who it will add about £18,000 to to their cost, just lowering the NI thresholds, so that could have quite a big effect.

I think overall I cant see theres anything in the Budget thats actually good news.

Ms Evans, who runs a consultancy firm, added: The Government is talking about this £22billion hole that they found that suddenly become £40billion and they seem to be trying to do everything all at once to try and recover that. 

But to me whats going to happen is that all of these extra costs are just going to put more and more pressure on businesses, all kinds of businesses, not just small businesses, but businesses at all stage.

At the end of the day thats going to filter down to every single person in the country.

She highlighted that if the cost of employing people goes up, businesses will be less likely to give pay rises and employ extra staff. 

Ms Evans also warned that this is a time when people need to look at what they are wasting in terms of spending money.

She added: I think the government wastes one hell of a lot of money, you know, but so do businesses too. 

I do think its that whilst this this is all about the Autumn statement, and how its going to affect people, I think generally what Ill be saying is that we cant wait for these things to be in our favour. We have to do what we can ourselves.

Its looking where are all the leaks? And I say to the government, Look at your own leaks, too!

When youre spending money that you dont need to be spending, or things arent as efficient or effective as they should be. And I worry that the slightest increase in costs will put some businesses out of business.

Some people will end up losing jobs or not be able to get jobs and thats not what we want. Thats not helpful.

PENSIONER FORCED BACK TO WORK: We have cold showers to save money

• Name: Pritpal Kaur 
• Age: 73
• Lives : London
• Job: Shop assistant

Pensioner Pritpal Kaur has been forced to go back to work as a Harrods shop assistant so that she can afford heating after her winter fuel allowance was cut in September.

The 73-year-old, from west London, suffers from blood cancer and relies on the heating, an electric blanket and hot water bottles to help ease her symptoms.

But her Winter Fuel Payment was cut because she and her husband receive £20 more than the £332.95 a week income threshold for Pension Credit and are not eligible for other means-tested benefits.

Its been very hard without the winter fuel allowance because I have blood cancer and need the heating all the time, she said.

Im forced to cut back on food shopping and buy the cheapest items. I go for quick showers and my husband has started having cold showers now to save money.

I have worked all my life and I am still working part time to make ends meet. I think its really sad what the government has done.

There are people like me who have cancer, are cold and need the money. Keir Starmer taking the fuel allowance is not fair at all.

Mrs Kaur, who spent 48 years working before retiring, now works two days a week as a shop assistant in Harrods in order to afford her heating bill.

She is pleading with the government to make changes and help pensioners like her who are living under the poverty line.

The government should give money back to pensioners in some way to make up for this loss, she said.

I have worked all my life and contributed taxes but I still have a cold house.

Her daughter Minreet Kaur, 43, cares for her full-time and is furious at Labour for cutting her winter fuel allowance.

My mum is not wealthy, she is working class and cant afford her winter fuel, she said. Shes immunocompromised and theyre doing this to her.

My dad is retired and wants to also get a job to help ends meet but he shouldnt have to work at that age.

I think its so unfair and so wrong. For the government to hit the elderly like that it feels as if they have no respect for them. Its like theyre trying to finish them off.

She added: In this country you work, work, work and you get nothing. My mum is 73. Its been such a rough year, its her time to relax but she is still suffering and I feel really angry.

I dont understand how someone like that has a job as prime minister.

FAMILY: My children rely on me to take them to school every day

• Name: Wahyudin Permanan Syam
• Age: 40
• Lives: Nottingham
• Job: Engineer

Wahyudin Permanan Syam was extremely concerned about an increase in fuel duty as he relies on his car for his job as an engineer and to take his daughter to school.

He will be relieved that the Chancellor confirmed that fuel duty will be frozen next year. 

The 40-year-old from Nottingham, who earns £50,000 a year, currently tops up 160 litres of petrol each month.

He says any changes to fuel duty, which was frozen for more than a decade under the Conservatives, would have left a huge dent in his pocket.

I use my car every day at work and take my daughter to school so even a little bit of an increase will hugely impact my outgoings, he said.

It will be tough to manage and make my costs much higher.

My family relies on me to drive every day so increased fuel prices will just be an extra burden.

Mr Syam who lives with his wife, a nursery nurse, and seven-year-old daughter suggested the government should increase fuel duty for those who use premium petrol because they can afford it.

I know the government needs to fill the budget gap but they should not sacrifice ordinary working people.

I think they should focus more on helping investment with business rather than just increase tax which is the easy thing to do.

Mr Syam is worried about being dragged into a higher tax bracket with his next pay rise following the decision to freeze income tax thresholds as it will mean less money for his family.

I would have less money in my pocket and it is a shame after the government said we wouldnt be affected, he said.

FAMILY AND BUSINESS OWNER: I cant grow my business anymore

• Name: Alisa Zotimova
• Age: 44
• Lives:  London
• Job: Real Estate

Alisa Zotimova, 44, has had to shelve plans to grow her business which involved hiring new staff members because of the increase in employers National Insurance Contributions.

The mother-of-two, who started AZ Real Estate in Marylebone 12 years ago, says the rise in costs is frustrating and described it as a tumultuous time for business.

Increased National Insurance payments for my business is not going to break the bank but it means there is less money to go around, she said.

If it increases with pension contributions then I wont be able to top up what is more than necessary as an employer.

I was planning to grow the business and up the revenue by hiring more people but I dont think I can do this anymore.

She added: Hopefully it wont be a dealbreaker but I will have to weigh everything and try to see where else I can cut costs and adjust accordingly.

It means we will have to do less marketing and the budget will take a hit.

Mrs Zotimova, who draws a small salary and reinvests in her business, admitted it is fair that those who can afford it should pay more into the system but that the money needs to go to the right places.

Her family has also been hit hard by the decision to introduce VAT on private school fees which has seen costs for her five-year-old son Leos education increase.

Were not taking him out of this school now but it does change things up and we have to try and make more money to cope, she said.

I think this is a socially divisive and superficial action and the funds raised will not fix the problem with state education nor should they.

Mrs Zotimova wrote to her MP in West Hampstead, Tulip Siddiq, and hit out at the Labour policy.

The public system wont cope and it overall feels like some populist vengeance against who? The rich? They wont feel it.. But we will, she said.

Small business owners like me, parents who are working super hard to pay these fees and for whom the addition of a fifth of the fees on top may just tip the whole setup into oblivion.

She goes on holiday with her family at least three times a year and says a rise in Air Passenger Duty could mean they travel less and save up for longer.

We love to travel so we always try to go away with our kids during half term but I shouldnt be prosecuted for it, she said.

Were not going on private jets or anything but we enjoy it and its nice and our son gets to see different parts of the world.

Air passenger duty will probably not scupper our plans but we may go on holiday less and probably have to save up ahead of time.

But what is the logic behind it? Is it going back to help the environment? Will the flights be on time? It sounds like they are filling up the coffers by any means.

PENSIONER: I am appalled by the winter fuel payment cut

• Name: Tom Harrison
• Age: 88
• Lives: Berkshire
• Job: Retired

Tom Harrison fears the Budget will leave him poorer as a pensioner and pointed to Labours treatment of the elderly as cause for concern.

The 88-year-old, from Spencers Wood in Berkshire, receives around £25,000 a year from a mixture of state pension, an annuity and income from his savings accounts.

He had his winter fuel payment cut and said although he doesnt have a lot of money, it isnt going to affect him.

I am appalled they took it away and at the same time they announced a pay increase for train drivers, Mr Harrison said.

It is just less money- it will affect those pensioners who are just above the threshold but not by a great deal.

When the Labour government gave their blurb before the election it sounded like they would be sensible and now I am worried they wont be.

It shows with the way they have treated pensioners. I have been talking to a friend who has to decide whether to have her windows insulated or to pay off the mortgage.

He still works nine hours a week at a Cotswold Outdoor store where he fits customers with walking and running shoes and says the money is handy.

His civil partner Colin Cottell, 64, claims the Labour party is being disingenuous with its policies.

Labour promised change but they have just brought in changes that werent in their manifesto, he said.

I dont think it will be worth the hassle and politically and they have caused huge damage to themselves. It will probably backfire.

LAWYER: Raising capital gains tax makes me angry

• Name: Rebecca Seeley Harris 
• Age: 58
• Lives: Devon
• Job: Lawyer

Rebecca Seeley Harris, 58, said she was relieved, adding: A lot of the measures I thought were going to be brought in havent been. 

She was concerned about changes to capital gains tax rates and inheritance tax as she will soon need to sell her parents home and investments to pay for their dementia care.

The lawyer, from Devon, spends close to £2,500 a week on looking after her elderly parents and says she will soon have to look at selling their assets to keep up with the payments.

Ahead of the Budget, Miss Harris was also looking to take out 25 per cent of her pension as a lump sum to pay off her mortgage but has held off because of rumoured changes to the system.

The main problem for me was the fear, all these leaks were very worrying because you are not sure what is going to happen, she said.

I actually work in tax but I am still not an expert. I got really panicky and thought tomorrow Ill take it out but its not as simple as taking my 25 per cent now.

If I take it out now I am gambling on my future but if I keep it it will be bigger.

She added: Everything is going to hit me. CGT, changes to pensions and I am not wealthy. I feel all these measures directed at me.

If all these raises mean we get a better NHS and the budget potholes get filled then I wont mind.

But I worry all of these tax raises will go nowhere and nothing will get fixed.

LANDLORD: This Budget is a right dogs breakfast

• Name: Kundan Bhaduri
• Age: 42
• Lives: Kent
• Job: Landlord

Kundan Bhaduri has blasted Prime Minister Sir Keir Starmer for suggesting landlords are not working people.

The 42-year-old landlord, from Kent, said of the Budget: The governments approach to landlords is fast resembling a Monty Python sketch: endless hoops, rising taxes, and a litany of regulations make you wonder if theyre hoping to drive every last one of us to find something more respectable to do, leaving aside being a landlord which has already been cursed to being the job for the devil.

After hiking up interest rates and slapping on tax grabs, they have the cheek to wonder why rents are up and housing options down. 

Its hard to offer affordable rentals when policies squeeze us dry—landlords arent public services, after all. Its high time for policies that incentivise, rather than hobble, those creating homes.

This increase in stamp duty is another kick in the teeth for small landlords up and down the country.

Mr Bhaduri, a portfolio landlord and property developer, described the Budget as a right dogs breakfast.

He added: This Prime Minister, in what he describes as his minds eye has already dismissed us as not being working people. This is as baffling as it is insulting. 

Landlords invest, employ contractors, and maintain properties, many juggling portfolios and day jobs alike. With property now yielding less profit, dont be surprised if investment dries up, and tenants find options thin on the ground.

To keep the market buoyant, the government must pivot—rethink these tax hikes and invest in sustainable support for the rental sector. Otherwise, in two years, we may find the UKs rental market unrecognisable, with housing scarcity at an all-time high.

Mr Bhaduri fears that capital gains tax will be swallowed by the taxman rather than using the profits to reinvest in housing.

He added: This government seems to think landlords are all Monopoly men, strolling around the board picking up properties on whimsy. In reality, many of us are small business owners, people whove worked our socks off, taking on risk and sleepless nights to secure our financial futures—and theirs, mind you. 

Instead of fairness, we get the sharp end of the stick. Imagine it: they get their tax grab, but what about the tenants we house? Fewer landlords mean fewer rental properties, which means rent hikes across the board.

If the government really wants to level up, it could start by recognising who actually props up this economy.

PENSIONER: This Budget makes me feel sick 

• Name: Elaine
• Age: 70s
• Job: Retired

Widower Elaine is in her 70s and spent 20 years caring for her late husband before he passed away. 

She was furious at the winter fuel payment cut and now spends 25 per cent of her income on energy bills.

Elaine, who is dreading the colder months said: This Budget makes me feel sick. I think theyve been disrespectful to all the pensioners that have paid into the country.

Theyve just thrown us in the scrap. Its absolutely despicable what theyve done. Theyre not helping any anybody. 

I didnt vote Labour. Rishi told everybody that if they voted Labour theyd get hit with the taxes, but nobody believed them.

Hes not helping the ordinary family man. Hes not helping the pensioners. Wheres it all going to end? Are they going to tax pensions?

The sooner theyre out the better, quite frankly, and I know weve got probably 5 years, but you know the country will be fed up by then, Im sure.

Elaine said taking the winter fuel is going to cripple me, adding: I struggle as it is... being frightened to put the heating on when youre in your seventies is despicable.

SWEET MANUFACTURER: Here we go again 

• Name: Steven West 
• Lives: North Wales
• Job: Business owner

Steven West, a sweet manufacturer from North Wales, has been left shocked by a hike in employer National Insurance, following a tumultuous few years.

Mr West, the managing director at The Pudding Compartment, said: Small businesses like ours are a resilient lot. We have to be in order to survive, especially in the food sector. 

Weve had pandemics, and energy crisis, supply chain failures and shortages, food Inflation, the cost of living crisis and wage inflation... the list goes on. Just when we think we have turned the corner back towards stability and maybe even a bit of profit, bang, here we go again.

 Speaking about the increase in employer national insurance, he said: We employ 26 people so this means we need to find a way to reduce our payroll by about 30 hours a week just to stand still, and this is without any other measures yet to be announced. 

Our customers cant tolerate yet another price increase so it looks like we are on our own with this one. Any increase in NI is clearly taxing existing and new jobs so our plans to grow the business and create jobs will need to be reviewed.

SMALL BUSINESS OWNER: This government doesnt understand entrepreneurship

• Name: David McKenzie
• Age: 34
• Lives: Derbyshire
• Job: Sports broadcasting

The son of a former Labour MP is concerned about how rising CGT will impact his media company and says the government doesnt understand entrepreneurship.

David McKenzie, 34, who lives in Derbyshire, started sports broadcasting company Pysched4 in February 2023 and is concerned policies in the Budget will discourage financiers abroad from investing in the UK.

The reality is it is the worst time to start a business, he said. The biggest challenge has been the investment market. Investor confidence as a market has probably not been what it was 5-10 years ago.

Changes to CGT are concerning because you start to look at the impact and how attractive the UK could be to investors.

It is being pitched in an unfavourable way. Other areas in the EU like Ireland and Germany are more favourable.

Things like that really discourage people who are taking risks to start their own business.

He has not taken a wage since he decided to leave the tech industry and start his own company.

Mr McKenzie, son of Iain McKenzie, the former Labour MP for Inverclyde, claimed entrepreneurs are already taking their businesses to places like Portugal.

The proposed CGT increase would make the UK less attractive for early venture business, he added.

They would look towards more tax friendly countries. It is an inherently risky policy in an already very difficult market and that would make it substantially harder.

PENSIONER: Rising capital gains tax would halve my income

• Name: John Taylor
• Age: 72
• Lives:  London
• Job: Retired

Pensioner John Taylor is worried about losing up to half his monthly income due to a rise in capital gains tax.

The 72-year-old from London relies on shares and investments and says a reduction in his income will have a negative impact on his standard of living.

I have money in other investments but I didnt transfer them into my ISAs because the tax was not that high, he said.

A rise in CGT would reduce my income by half and Id have to spend less and cut out on certain things.

I have been putting money into ISAs in order to avoid capital gains tax and have been thinking about taking all my money out of investments and putting it into them.

Mr Taylor, who was a lawyer and consultant before his retirement, said he was shocked to hear about these proposed changes which would affect him.

All this uncertainty is frustrating because they promised before the election they werent going to raise taxes on individuals, he added.

I wasnt too alarmed to start with but I heard more and more proposals leaked and it has become concerning.

BAR OWNER: Rising National Insurance will kill off businesses

• Name: Lawrence Barton
• Age: 50
• Lives: Birmingham
• Job: Bar owner

Lawrence Barton owns three bars in the centre of Birmingham and the rise in employers National Insurance Contributions and the minimum wage will cost his business £106,000 a year.

The 50-year-old says he has no choice but to increase prices and that these policies in the budget will spell the end of many businesses.

He is an additional rate taxpayer, earning more than £125,000 a year, and insists this has been the toughest year in business since he began almost three decades ago.

Its becoming depressing really, he said. I am watching local, regional and national businesses fail on a scale I have never seen. People are feeling quite desperate.

Mr Barton, who owns The Village Inn, The Loft and The Nightingale in Birmingham, employs around 100 people and the rise in NIC will cost his businesses £36,000 a year, at a time when they were already trading at a loss.

It is going to make life worse as it is. There will be business closures. what we need is relief, he added.

This type of extra cost will have a detrimental impact on many businesses. It is not a smart strategy to fix something which will lead to more funding holes.

By penalising businesses you are suffocating the very businesses which would be far more beneficial in the medium term.

CARER ON MINIMUM WAGE: I just about keep my head above the water

• Name: Julie
• Age: 60
• Job: Carer

Julies life fell into a downward spiral following the breakdown of her marriage. She had two young children to raise, no maintenance payments from the childrens father, and little family support as her mother had died and her father was ill. 

She struggled to be able to work and ended up relying on payday loans to keep her and her family afloat.

I struggle on a day to daily daily basis, she said. Im on the living wage, and I just about keep my head above the water.

When Julie, 60, eventually returned to work, she was thousands of pounds in debt. She tried to keep costs down while repaying loans such as using foodbanks and downsizing from her family home of 25 years. 

She eventually reached out to Christians Against Poverty who helped her file for bankruptcy to write off her £28,000 debt.  

But she is still struggling day to day financially, earning just over £1,000-a-month for a 30-hour minimum wage contract at a care home.

I would welcome a rise in minimum wage with open arms, she said. Im a carer. I am in a residential home, and I just think that for what I do every day on a daily basis, the pay isnt good. 

At the end of the month my pay is gone on bills mostly. I obviously need to keep myself alive and keep myself afloat.

My rent straight away is £500. Thats gone before I blink and then obviously we have got gas, electric water, food, phone which we all have to have.

When asked if the government is supporting people like herself enough, she said: Not really, no, because Im a single parent.

I only have 25 per cent discount in council tax, where I think I should be having 50 per cent because I am one of two people.

My friends theyre paying 50 per cent each. I have to pay 75 per cent because Im single.

FAMILY: Were not a happy household 

• Name: Naomi Keegan
• Age: 41
• Lives:  Devon
• Job: Solicitor

Naomi Keegan, 41, has two children in private school and the decision to introduce VAT on fees has turned her world upside down.

The mother from Devon and her army officer husband Stuart spend £30,000 a year on education for their 12-year-old daughter and 10-year-old son.

But they have to supplement the 20 per cent rise in fees through their savings and forecast they will run out of money during her 12-year-old daughters GCSEs in two years.

I have been a bit of an emotional wreck since it was announced, she said. Theres a real misunderstanding of the private sector and those that use it.

We as a family are not the type of family people have in mind.

Its really destabilising for us as a family. We have spent thousands of pounds and went without for a number of years and we potentially wont get the education for them.

Mrs Keegan and her husband decided to send their children to private school because their son was struggling with dyslexia and their daughter lost her confidence after the pandemic.

One parents evening we felt one of the teachers didnt know which child she was talking about. It was quite worrying, she said

She has been struggling mentally since Labour announced it would impose VAT on private school fees from January 1.

I feel under immense pressure to fix this problem for my kids unless something changes, she added.

Its horrible and it has badly affected me and my mental health has suffered significantly at a time where I have to be performing well to earn more and pay for this.

Were not a happy household at the moment.

SEMI-RETIRED: This Budget frightens me

• Name: Charlie Boliston
• Age: 64
• Lives:  London
• Job: Consultant

Charlie Boliston, 64, is looking at retiring soon but is concerned the governments budget will leave him poorer and he wont have saved enough money.

The consultant from Wandworth, London, who describes himself as semi-retired, has around £450,000 saved up in a pension and ISAs but is worried this wont stretch far enough.

This budget is frightening and so will the ones to come, he said. I am concerned because you think you have enough for retirement but it looks like everything is going up.

We have all worked hard all our lives and tried to save our money but now its not within the definition of working people allegedly.

I am not a multi-millionaire but I do think you need a reasonable amount to retire.

He believes pensioners will be worse off under this Labour government and has been left annoyed by Sir Keir Starmers definition of working people.

Mr Boliston said: This affects everybody but if youre not working and supplementing your income, then it is going to go down.

It does seem that were going to have a few per cent taken away and a couple of other things.

The way this government is behaving in two or three years, if you have investments then they might say you dont need your pension either.

I think the mask has slipped already. Were dealing with serious class war issues and Ive seen it before.

He added: Whatever happens were going to be poorer theres no doubt about that.

These guys are coming for our money, this is going to be the first of five. I think it is only going to get worse.

In half a years time therell be another emergency budget and more will happen.

BUSINESS OWNER: Our industry is being decimated  

• Name: Becky Lumsden
• Age: 49
• Lives:  Edinburgh
• Job: Spa owner

Becky Lumsden, 49, owns 23 beauty spas across the country and will incur extra costs of £44,000 a year following the increase in employers National Insurance contributions and the minimum wage.

The mother-of-two, from Edinburgh, who employs around 200 people at Pure Spa, which she started in 2002, says cannot afford this and will have to look at redundancies.

Its an absolute disaster, our industry is being decimated by every policy they seem to come up with, she said.

Were limited in what we can do when it comes to passing on any tax increase. Almost half of our revenue goes to the government, its astronomical.

I feel like going to the government and saying heres my company run it for me. Its very disheartening.

We work the hardest in our business and were the lowest paid people on our payroll but were not classed as workers, apparently.

Mrs Lumsden says around 60 per cent of her costs are staff so a rise in the National Insurance rate for employers is disastrous.

This is a tax on jobs and it is the worst thing we ever expected them to come up with, she said.

I dont feel like theyre fairly sharing the burden. I think its disproportionate, the burden will be felt hardest on small and medium businesses.

She added that she will have to look at ways to operate with less staff and will have less funds to invest in her businesses which will make it more vulnerable.

TEACHER AND MOTHER: We are grateful for the pay rise

• Name: Henna Karim-Sayer
• Age: 27
• Lives: East Midlands
• Job: Teacher

Henna Karim-Sayer has benefitted from Labour policies as a teacher with a 5.5 per cent pay increase agreed with educators soon after the election in July.

The 27-year-old from the East Midlands, who teaches RE and PSHE at secondary school, believes it is a positive step in helping improve education.

I think it was a really positive start and hopeful because teaching at the minute is a very difficult profession, she said.

It got us off to a hopeful start and shows the government is going to be supportive of education.

Experienced teachers have felt undervalued so I think its good in terms of retention because that is one of the huge issues in teaching. Staff were leaving left, right and centre.

Mrs Sayer, who shares videos on TikTok under the username mrsreandpsheteacher, is in her seventh year as a teacher and earns around £46,000.

She is pleased to hear her pension wont be impacted by changes which are affecting private sector workers but is concerned about what this will mean for others.

It is reassuring, one of the good things about teaching is the prospect of a good pension, she said.

Im sure people would like to see money be reinvested into the education system because you want to see kids and grandkids succeed.

But it is worrying outside of teaching because it could mean there wont be as many jobs. That is a concern for people.

She is also worried about the number of private school students who are forced into state school because their parents cant afford to pay VAT on the fees.

Were at capacity so we are oversubscribed already which means bigger class sizes and you cant meet the needs which is a big concern for teachers, she said.

How do you teach a class when you have 32 children? its impossible sometimes.

Theres a stereotypical idea that private schools are for the elite and very rich kids go to private schools but there are some families who will sacrifice everything for their kids to go.

Its making the gap even bigger between the haves and have nots and personally I am not a huge fan.

SICKNESS BENEFITS: The rhetoric around disabled people is damaging

• Name: Nicki Myers
• Age: 51
• Lives: Cambridge
• Job: In care

Nicki Myers, 51, who lives with pulmonary fibrosis and genetic disorder Ehlers-Danlos syndrome, which affects connective tissues, is extremely worried about proposed cuts to sickness benefits.

The grandmother, from Cambridge, is a bed-bound palliative care patient and receives £1,500 a month through Employment and Support Allowance and Personal Independent Payment.

I am still worried my benefits will be cut and stress makes people sicker, she said.

I really hope this wont affect me because my condition has become so bad. I would literally have nothing if they were cut. I couldnt continue.

Some of the briefings that are coming out, that they need to toughen up the system has me in disbelief.

There are so many hoops to jump through where you have to provide medical proof and you feel guilty having to ask.

Even with her current benefits, Ms Myers has found herself in debt with her energy and water suppliers.

She added: I think the rhetoric around disabled people is damaging and the government needs to talk to disabled people because theyre getting it wrong.

It is getting worse and worse. Now our bank accounts are being surveilled. It is not a surprise disabled people are taking their lives.

Life has become unbearable for many people. It is incredibly sad.

LUXURY PILLOW BUSINESS OWNER: Im leaving Britain for South Africa 

• Name: Karli Buchling
• Age: 37
• Lives:  South Africa
• Job: Business owner

Karli Buchling, 37, immediately started the process of moving her luxury pregnancy pillow business to South Africa once she saw Labour win the election in July.

The mother-of-two, who lives in the Cotswolds, claims it wont be viable to run a business under this government because of the proposed tax hikes.

She says she will generate as much as 40 per cent more profit in South Africa compared to Britain with Natal Comfort and expects to complete the move by mid-November.

I was concerned about incoming tax payments from the Labour government. There are bound to be changes and I dont have wiggle room, she said.

It is becoming too expensive and with having to possibly pay additional tax, it just doesnt make sense anymore.

Managing a business in the UK is not an option at all because of the costs.

Mrs Buchling, who earns more than £125,000 a year, started the business in 2017 and says she pays a huge amount of money in taxes already.

She claims she could save up to £10,000 a month by moving Natal Comfort to South Africa.

That is a significant amount of money, she said. Its just a shame because I really wanted to get to a point where I could build the business up here but its financially not possible.

But it is becoming unaffordable being a self-employed entrepreneur. With this CGT increase, there is no point in us being here with our diverse investment portfolio.

Everyone is leaving and its a shame. It will impact. I think businesses will either close or people will leave the country to be able to pursue their ventures.

FLORIST: We are seriously worried 

• Name: Linda Taylor and Scott Davison
• Age: 56 and 55
• Lives: London
• Job: Florists

The owners of a luxury flower shop in Mayfair, London, are having sleepless nights over the future of their business following the budget.

Linda Taylor, 56, and Scott Davison, 55, are extremely concerned about how the rise in employers National Insurance Contributions and minimum wage will affect Goode Flowers at a time when the industry is already struggling.

The pair, who have more than 40 years of experience in floristry, decided to start their own business with Pal Griffiths, 55, in June 2020.

But they say trade has been very difficult and the governments budget will spell more trouble.

All of this has been going downhill, Mr Davison said. They now want to tax us even more in this budget and I dont think there is much more room to skim off.

Everyday I think we are working for the government with these taxes. This is a luxury good, it is even harder for florists. It isnt what people need, so we will have to take the hit.

We are seriously worried and we had a meeting with our accountant. Its got that serious.

It is a worry and it leads to sleepless nights over our business and the government dont live in the real world.

Mrs Taylor believes costs caused by an increase in employers National Insurance Contributions and minimum wage will lead to suppliers passing them on to Goode Flowers.

The costs for everybody will go up and the spending power will affect our costs, she said.

Our suppliers who employ people who have to fund extra National Insurance, theyll stick the money on there but we cant put our prices up.

The minimum wage rise will also add on extra costs and have a huge impact on our business. If we shut our doors, they will lose their tax money. Its a vicious cycle.

She added: The taxman probably has a bigger income from this business than we do.

I dont think the Chancellor has any real idea of the day to day running of the costs of a business and we have to give away our own wages. It gets harder and harder each month.

Mr Davison said their high-end clients are leaving the country in their droves because of the tax hike.

Leading up to this budget, people have been terrified. The negativity has meant people have been spending less since Labour were elected, he said.

RESTAURANT OWNER:  The sins of a few are being paid by the blood sweat and tears of the many

• Name: Sean Finnegan
• Age: 49
• Lives: Stockport
• Job: Restaurant owner

Sean Finnegan, 49, says the rise in employers National Insurance Contributions will cost his business an extra £1,500 a month.

He employs 10 people at the Fold Bistro in Stockport, Greater Manchester, and wont be able to invest in the restaurant or recruit for more roles following the tax hike.

Its a substantial monthly increase, he said. Its going to affect the sector overall as costs continue to spiral.

The sins of a few are being paid by the blood sweat and tears of the many.

It just shows the nature of the government here and they just wont stand up to the real issues and expect the private sector to bear the biggest brunt.

Mr Finnegan opened the fine-dining restaurant in January 2023 and executive chef Ryan Stafford who appeared on the final of the BBCs Great British Menu last year believes the government is unfairly punishing small businesses.

For them to have minimum wage go up over the cost of inflation in back to back financial years, it is basically asking small businesses to pay the cost of government ineptitude, he said.

It shows a total fear of big business and being unable to stand up to them.

He added: The UK food scene has taken centre stage over the last 10 years and that work is going to be undone by a succession of ill-advised policies and theyre not listening to the hospitality sector.

SELF-EMPLOYED SINGLE MOTHER: Tax rises will drive my customers away

• Name: Monika Zytowiecka
• Age: 38
• Lives:  Southampton
• Job: Business owner

Self-employed independent business owner, Monika Zytowiecka, 38, launched her beauty business in February, offering permanent makeup, Botox and fillers. 

She runs it from a studio in her home in Shirley, Southampton but says she had a very quiet month in September. She fears tax rises would mean less people would be able to afford luxury services such as hers. 

The single mother to Zoe, four, also hoped government-provided childcare would be improved.