The Chancellor Rachel Reeves will deliver her first budget on 30 October 2024. In keeping with past Governments, the new Labour administration will likely announce a great deal of change in their first budget. The Prime Minister has already warned that it will be “painful” after claiming that the new Government has discovered £22 billion of overspending in the UK’s finances.
Sir Keir Starmer’s government came to power on a manifesto promising a “plan to kickstart economic growth by reforming Britain’s economy”. Having ruled out increases to income tax, national insurance, corporation tax and VAT they are constrained in how they fill those spending gaps and fund their plans for growth.
Experts from across Grant Thornton will share their thoughts on what to expect in the run-up to the Budget. We will help you understand your options so you can confidently respond to whatever is announced.
