Autumn Budget 2024: Government to examine ‘tough alternatives to custody’ in prison reforms October 30, 2024 The Chancellor has revealed a £2.3bn investment in prison expansion to create thousands of new prison places, as the government aims to "repair the justice system"
Autumn Budget 2024: Reeves scraps British ISA plans October 30, 2024 Chancellor Rachel Reeves failed to make any changes to Individual Savings Accounts (ISAs), keeping annual subscription limits fixed, while confirming that the British ISA would be scrapped. The annual ISA allowance has been constantly been upped in recent years, starting at £7,000 in 1999, then to £7,200 in 2008, £10,200 in 2011, £15,000 in 2014, [...]
Autumn Budget 2024: Labour backs UK’s tech and creative sectors October 30, 2024 The UK’s technology and creative industries received a boost in Rachel Reeves’s Autumn Budget on Wednesday, as the Chancellor laid out capital investment plans that she said will “drive growth across the country.” Reeves confirmed plans to “capitalise” the National Wealth Fund to back industries set for future growth, including gigafactories, ports, and green hydrogen. [...]
Autumn Budget 2024: Major HS2 and train route updates unveiled October 30, 2024 Chancellor Rachel Reeves has revealed in her first Budget that the Transpennine upgrade to connect York, Leeds, Huddersfield and Manchester will be secured under the new Labour government. Reeves said the money would deliver “fully electric local and regional services between Manchester and Stalybridge by the end of this year, with a further electrification of [...]
Autumn Budget 2024: Reeves extends rates relief for retail and hospitality October 30, 2024 Rachel Reeves has extended business rates relief for the UK’s hospitality and retail sectors. In her highly-anticipated Autumn Budget statement today, the Chancellor announced a 40 per cent business rates relief for the industry, which is down from the current 75 per cent rate set to expire on 31 March. The 40 per cent rates [...]
Autumn Budget 2024: Fuel duty frozen as hike would be the ‘wrong choice’ October 30, 2024 Chancellor Rachel Reeves has declared a rise in fuel duty in 2025 would be the “wrong choice” as she pledged to continue the freeze and maintain the temporary 5p cut for another year. In her first Budget, Reeves told MPs that to retain the 5p cut and freeze fuel duty again would cost more than [...]
Autumn Budget 2024: Vaping tax and tobacco duty to increase October 30, 2024 Smokers and vapers are set to pay more in Britain as Chancellor Rachel Reeves today announced a new vaping tax and an increase in tobacco duty during her Autumn Budget. She confirmed that the government will introduce a “flat rate duty” on all vaping liquid from October 2026, while also renewing the tobacco duty escalator [...]
Autumn Budget 2024: Stamp duty for second homes upped to support first-time buyers October 30, 2024 Chancellor Rachel Reeves has increased the amount of tax Brits will pay when buying their second home to provide support for first-time buyers and those moving home. Second-time buyers previously paid three per cent stamp duty on homes worth up to £250,000. From tomorrow, they will pay five per cent tax. The increase will also [...]
Autumn Budget 2024: Reeves increases taxes on private equity profit October 30, 2024 The Chancellor Rachel Reeves confirmed she would raise taxes on the profit made by private equity dealmakers today but stepped back from the full-scale raid feared by some corners of the industry. In her maiden Budget, Reeves said the government would lift the levy to 32 per cent from April next year, up from the [...]
Autumn Budget 2024: Sweeping overhaul of inheritance tax regime revealed October 30, 2024 Alongside the changes to pension pots, the Chancellor said she was changing the taxation of gifts passed on during someone's lifetime.