Autumn Budget 2024
Chancellor Rachel Reeves delivered her Budget on Wednesday 30 October 2024. She pledged to ‘invest, invest, invest’ to drive growth and ‘restore economic stability’.
The government must “restore economic stability and turn the page on 14 years” of Conservative government, Reeves says. The Labour party has rebuilt the UK economy before, and will “rebuild Britain once again”.
Rachel Reeves says the UK voted for change, and the Labour government has a mandate for a decade of “national renewal”.
Ms Reeves said the Budget will raise £40 billion in taxes. Employers’ National Insurance contributions (NICs) will be increased from next April while Capital Gains Tax rates will also rise. Inherited pensions will fall within the Inheritance Tax net from April 2027 while reliefs will be reformed on the passing down of agricultural and business assets.
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