Wednesday 26 November 2025
*THE CHANCELLOR OF THE EXCHEQUER WILL GIVE THE BUDGET TODAY AT 12.30PM AFTER PRIME MINISTER’S QUESTIONS.*
The Mighty Headlines
Economics: UK increases minimum wage by 4.1%
Business and markets: UK to end stamp duty tax for new UK-listed shares
Foreign Affairs: Trump has successive calls with China and Japan on Taiwan
Security and intelligence: France and UK insist on troops in Ukraine
Domestic politics: UK Government backs £49 billion plan for Heathrow
The Mighty Stats
FTSE = 9,609.53 (up 0.78%)
S&P 500 = 6,765.88 (up 0.91%)
Nasdaq = 23,025.59 (up 0.67%)
CAC40 = 8,025.80 (up 0.83%)
£1 = $1.32 / €1.14
Lab / Con / Reform: 19 / 18 / 25 per cent (YouGov, 23-24 Nov)
*UK Budget today: Here are the approximate timings for the main Budget day events.
Prime Minister’s Questions (12.00pm)
UK Chancellor delivers Budget (12.30pm)
Leader of the Opposition responds to Budget (1.30pm)
Chair of the Office for Budget Responsibility (OBR) gives livestreamed press conference (2.30pm)
The Mighty Detail
Economics: The Government has announced that the minimum wage for workers over the age of 21 will rise by 4.1 per cent next April. It has risen by 22 per cent in the last four years. The minimum wage for workers under 21 will rise by 8.5 per cent, giving young workers an extra £1,500 a year. Some people suggest the move could fuel inflation and dampen hiring.
Business and markets: The UK is set to abolish the 0.5 per cent stamp duty tax that investors pay to buy shares which are newly listed in the UK. The move is designed to support the flagging UK IPO market.
Around £184 million was raised on the UK stock market between January and September this year, compared to around £40 billion on the US stock market.
Foreign Affairs: President Trump held back-to-back calls with the leaders of China and Japan as tensions over Taiwan show no signs of abating. China has involved the UN and Taiwan is now speaking up saying that returning to China is “not an option”.
Security and intelligence: In contrast to the US’s original plan, the UK and France insisted yesterday that there must be troops on the ground in Ukraine after the war ends with Russia. President Macron and Prime Minister Starmer said this would deter Russian aggression. In a Truth Social post yesterday evening, President Trump suggested that a peace deal was close.
Domestic politics: The UK Government is supporting a more expensive expansion plan for Heathrow Airport worth around £49 billion. The plan budgets around £15 billion to build a new runaway and re-route the M25, and around £33 billion for a new terminal.
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The Mighty Calendar
What’s happening today?
Prime Minister’s Questions in UK Parliament
Budget announced in UK Parliament
Verdict in former French President Sarkozy’s conviction appeal
US GDP data (Q3 2025)
Company results from: Pets at Home, Deere & Company
Lookahead to tomorrow
US public holiday (Thanksgiving Day)
Culture Questions in UK Parliament
Budget Debate in UK Parliament
Pope Leo begins visit to Turkey
International Space Station Expedition 74 launch
Company results from: Halfords
The Mighty Finale
🌤️Weather today
Rain in the west of England. Dry in the east until the afternoon. High of 7C and low of 6C in London. Rain in Belfast and Edinburgh.
✏️Life coaching quote of the day
“Your life does not get better by chance, it gets better by change.” – Jim Rohn, motivational speaker
Mighty takeaway: It doesn’t have to be a big change. You could start small. What first step could you take today to make your life better?
That’s it for this morning. Thanks for reading!
Adios!
The Mighty Memo team
*To read the Mighty Memo manifesto and learn about why we do this visit: https://www.mightymemo.co.uk/why*