Autumn Budget – What Might Be Instore?

With Chancellor Rachel Reeves's first Budget scheduled for Wednesday 30th October 2024, we have set out below, our thoughts on some of the rumoured tax rises required to address the nation's £20 billion deficit.

While Reeves has pledged not to raise income tax, national insurance or VAT, other tax increases and spending cuts may still be on the horizon, especially in light of a £22 billion shortfall, public sector pay rises, and other recent financial commitments. Though details will not be confirmed until the Budget is officially released, Labour's manifesto has hinted at potential changes in key areas. We have summarised the most relevant updates for you below:

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