The Morning Briefing: Tax hike fears drive clients to ISAs and pensions; Breaking the psychological barriers to investment

Morning Briefing for Tuesday, 4 November 2025

Good morning and welcome to your Morning Briefing. Tax hike fears are driving clients to ISAs and pensions, as a leading think tank warns that tax rises are "inevitable" ahead of the 26 November Budget.

Chancellor Rachel Reeves is set to outline her priorities for the fiscal event, which include cutting hospital waiting lists, the national debt, and the cost of living. According to new research from Hargreaves Lansdown, investors are taking pre-emptive financial action in response to fears of tax hikes.

Tax rises are "inevitable"

The chancellor will pledge to make "important choices" in her pre-Budget address today, setting the stage for a potentially tough budget.

Author's summary: Tax hike fears drive investors to ISAs and pensions.

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