Key Announcements - 31.10.2024
On 30th October 2024, Rachel Reeves, the first female Chancellor, and the first Labour Chancellor in fourteen years, delivered Labour’s first budget in power. The build-up to the budget featured a high degree of speculation, after significant hints from senior members of the cabinet that Labour would have to increase taxes substantially in the wake of what they labelled ‘a £22bn black hole’ inherited from the Conservative party. Ultimately, Rachel Reeves targeted £40bn in tax rises in the statement and in this document we set out where these tax increases have occurred.
You can find our review of the key changes in the budget here:
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