31/10/2024
Understanding what the Autumn Budget means for you
Rachel Reeves has delivered her first Budget as Chancellor, and the first Labour Budget in 14 years. It brings some clarity and certainty following many weeks of speculation. The Government has had to balance a challenging fiscal situation with a plan to invest for the future and for growth.
The Chancellor has increased taxes by a record £40bn and increased borrowing to £127bn for this tax year. Alongside the headline changes to minimum wage, fuel duty and increased spending for public services there were several changes that may affect you.
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Rachel Reeves has delivered her first Budget as Chancellor, and the first Labour Budget in 14 years. It brings some clarity and certainty following many weeks of speculation. The Government has had to balance a challenging fiscal situation with a plan to invest for the future and for growth.