Nearly a quarter (23 per cent) of adults took financial action due to pre-Budget speculation, with 20 per cent of those who acted now regretting at least one of their decisions, according to St. James’s Place (SJP).

The firm noted that rumoured changes ahead of the Autumn Budget led to thousands of people making financial decisions, with many regretting these choices.

Of those who took action, the most common response was to adjust investment portfolios, with 48 per cent changing how their money was invested.

These changes ranged from withdrawing money into cash or delaying new investments, to reallocating funds into perceived safe-haven assets or riskier options such as cryptocurrency.

More than a third (34 per cent) of those who made changes altered their saving habits, while 30 per cent adjusted their pension arrangements amid expectations of potential reforms.

Over a fifth (21 per cent) made changes to their ISAs, while 12 per cent gifted money to children or grandchildren.

However, once the Budget had been delivered, 20 per cent of those who had taken actions regretted at least one of their decisions.

Regret was particularly common among those who had altered their pension arrangements, with 19 per cent wishing they had waited.

Meanwhile, 15 per cent who had made changes to their portfolios ahead of the Budget regretted doing so, while 10 per cent who altered their ISA arrangements felt they had acted too soon.

Changing saving habits was regretted by 10 per cent who made such changes, while 7 per cent of people who gifted money to family members believed they should have waited.

“Budget speculation can have real consequences for people’s finances, particularly when it surrounds pensions and long-term savings,” commented SJP head of advice, Claire Trott.

“In the lead up to the Autumn Budget, months of speculation created a sense of urgency for many people, prompting individuals to take action before any policies were confirmed – and our latest research shows that some now regret doing so.

“Pension changes, especially those connected to the tax-free lump sum, can be irreversible, and acting prematurely can be detrimental for those who had made plans over the longer term.

“That is why reducing unnecessary speculation around fiscal events is so important. When the public is confronted with repeated ‘what ifs’, people feel pressure to move their money in ways that may not align with their long-term interests.

“Greater clarity and stability around tax and pension policy would go a long way in helping individuals make informed choices.”

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