You could be forgiven for thinking that the run up to Rachel Reeves’ second Budget got underway in early summer. It was in June that the government climbed down on the winter fuel payment, while July saw cuts to disability benefits abandoned. Together those U-turns created a fiscal hole of around £6 billion by 2029/30….
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We have decided to participate in Cash for Kids Tayside’s Mission Christmas Appeal again this year. There are too many children in the area living in poverty, who deserve a gift on Christmas Day! So, Mission Christmas is an annual campaign to gather Christmas presents for children in Tayside. We are a registered ‘drop off’…
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In mid-March 2024, the then Shadow Chancellor, Rachel Reeves gave the Mais lecture to the good and the great of the City. In it she set out her broad fiscal framework, including goals to: • Balance the current budget, i.e. match day-to-day government expenditure with revenues; and • Have a single fiscal event (i.e. Budget)…
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As we approach the new government’s first budget on 30th of October it is natural to feel a mix of curiosity and concern about what changes might be on the horizon. There has also been significant speculation in the media, we felt it was important to reach out to our clients to provide an insight…
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On 30 October, Chancellor of the Exchequer Rachel Reeves will deliver the Autumn Budget Statement 2024, accompanied by a comprehensive fiscal statement from the Office for Budget Responsibility (OBR). This significant event comes as the new government, elected to boost economic stability and growth, takes its first important step in addressing the nation’s financial health….
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The early trailers in January 2024 for what is probably Chancellor Jeremy Hunt’s last ‘fiscal event’ featured Prime Minister Rishi Sunak promising “more to come” on tax cuts. At the time, Mr Sunak’s bullish viewpoint puzzled some commentators because the Treasury had yet to receive even an initial assessment of the UK’s financial health from…
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The Deputy First Minister and Cabinet Secretary for Finance, Shona Robertson, faced some difficult decisions in drawing up her first Budget. Inflation had taken its toll on spending, to which had been added new commitments such as a promised council tax freeze in 2024/25. The situation was exacerbated by the UK government’s decisions in the…
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Jeremy Hunt’s second Autumn Statement was set against a much less financially turbulent background than his first. However, politics still loomed large with a likely election in the next 12 months prompting calls for tax cuts from within the Conservative party. Until recently the Chancellor had attempted to stall such demands with warnings of “difficult…
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The first Budget since October 2021 was widely expected to be an uneventful affair. Five months ago, the then new Chancellor, Jeremy Hunt, presented an Autumn Statement that was more of a Budget than many formal Budgets. Not only did his Autumn Statement result in a greater increase in the tax burden than most Budgets…
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The Scottish Budget arrived towards the end of a busy week for economic news and the Deputy First Minister, John Swinney, set out “four important factors” in arriving at the measures announced in the 2023/24 Scottish Budget. Subject to these major constraints, Mr Swinney also set out three priorities for “a different path” from…
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