Some of the policies announced by Chancellor Rachel Reeves in the Budget will have a particular impact on young people.

Here are some of the important ones.

single bus fare ceiling In the UK it will be increased to £3 in 2025.

If you rely on the bus to get to and from school, a university campus or work, you’ll pay £1 more each way for the return journey.

This is an increase over the existing £2 limit introduced under the previous Conservative government to help with living costs.

The current cap was due to end at the end of December, so you’ll have to pay extra per journey when you take the bus in some parts of England early next year.

The new limit, which covers most bus journeys in England, will apply until the end of 2025.

Single bus fares in London with Transport for London will remain at £2 and £1.75 for those in Manchester due to the different funding system in these cities. Scotland, Wales and Northern Ireland have separate rules.

The budget announced this regulated train fares The price of train tickets in England will rise by 4.6% next year, while the price of most rail passes will also increase by £5.

The changes will come into force on March 2, 2025.

This change will have a huge impact on young people, as the 16 to 25 railcard is one of the most popular in the UK.

The government said the 4.6 per cent increase in regulated rail fares in 2025 was the “lowest absolute increase in three years”.

He added that the £5 increase in the cost of rail passes would be subject to industry review. Most railcards usually cost £30 per year.

Businesses have been hardest hit by the budget’s tax increases and almost everyone, including the chancellor, agrees it could affect staff pay.

In particular, all but the smallest employers will need to pay more National Insurance for each worker they have.

This means they may not be able to hire as many people, offer them as many hours, and give them such large pay raises.

So minimum wages will increase in April.

These charges will be £12.21 per hour for those aged 21 and over, £10 per hour for those aged 18, 19 or 20 and £7.55 per hour for those aged 16, 17 or on an apprenticeship.

One issue the Chancellor did not mention, but which may be important for anyone buying a home in certain parts of the country, is stamp duty.

This is a tax that applies when you buy a property in England and Northern Ireland.

Since 2022, first-time buyers have only been charged when buying a property costing more than £425,000. You only pay stamp duty on over £425,000.

However, from April, charges will be charged again for properties costing more than £300,000. This will primarily affect people shopping in the South of England.

Analysis by property portal Zoopla shows that around 80% of first-time buyers do not currently pay stamp duty, but this will now fall to around 60%.

Homeowners face paying higher stamp duty surcharges. They may choose to pass some of this extra cost on to tenants through higher rents.

Choosing not to buy could mean homebuyers buying more homes, but it could also reduce the number of rental properties available. Rightmove says that on average around 15 tenants are currently pursuing each rental property.

This is one of the most complex areas of the Budget but can be important for family farms.

From April 2026, agricultural assets worth over £1 million will no longer be fully exempt from inheritance tax.

For years, tax breaks have allowed small family farms (including land used to grow crops or raise animals, as well as farm buildings, cottages and houses) to be passed down through generations.

However, some considered this a loophole in the inheritance tax system.

Tax experts say some farmers take out life insurance or insurance to protect themselves from the impact of inheritance tax. gift They passed the farm on to their children more than seven years before they died.

Both electronic cigarettes and smoking is set to become more expensive.

The number of young people using e-cigarettes is increasing. Approximately one in seven people aged 18-24 A person who has never smoked tobacco regularly now uses electronic cigarettes.

Reeves has announced a new tax on e-cigarette liquid, costing £2.20 per 10ml of e-cigarette liquid.

But this won’t happen until October 2026.

This means the tax will come into effect after the government bans disposable e-cigarettes next summer.

The vape tax will be accompanied by an equivalent increase in tobacco duty of £2.20 per 100 cigarettes.

The government said it wanted to “maintain financial incentive for switching from tobacco to vaping.”

Additionally, cost increases of 2% for tobacco and 10% for hand-rolled tobacco will occur immediately.