What the Autumn Budget 2025 Means for Lambeth’s Business Community
The Autumn Budget 2025 sets out major national changes that will shape how businesses operate and grow, and several of these have direct implications for Lambeth’s entrepreneurs, creative organisations and investors. Below is a quick round-up of the updates most relevant to our local economy, drawn from Lambeth’s own analysis.
A new visitor levy to support local growth
A levy on overnight stays is being developed for London, a long-standing ask from boroughs. It has the potential to bring new investment into culture, public spaces and infrastructure, supporting Lambeth’s visitor economy and the ambitions of the Lambeth Growth Plan. The levy will be designed and managed by the Greater London Authority, and we’ll be working closely with the Mayor and government on its development. As more detail emerges, we’re exploring what this could mean locally for Lambeth and our partners to ensure the benefits are felt where tourism places the most pressure and creates the most opportunity.
Business rates changes
The revaluation may result in variable impacts; some businesses could see lower rates, others higher, depending on their premises and relief eligibility. The new multipliers and rate-setting rules mean the overall effect will vary across Lambeth’s high streets.
Crackdown on illicit business activity
The introduction of a Digital ID system aims to reduce fraud and improve compliance. This should help ensure fairer competition for local businesses.
Support for skills, young talent and SMEs
Over £1.5bn is being invested nationally in employment and skills support, including paid work placements for young people and fully funded apprenticeships for under-25s in SMEs. This will benefit Lambeth employers looking to hire and develop new talent.
Encouraging innovation and investment
Reforms to capital markets, investment rules and Research and Development aim to make it easier for scaling businesses to access funding. This is positive for Lambeth’s fast-growing tech, creative and digital sectors.
Cost-of-living measures that support stability
Energy bill reductions and a freeze on rail fares and fuel duty should ease pressure on residents and workers, helping stabilise cost pressures across the local economy.
Lambeth will continue to review the Budget as more detail emerges, especially around the visitor levy, business rates and skills programmes, to ensure our business community can make the most of the opportunities ahead.