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The Latest Breaking News from Budget

OPINION - The Standard View: Labour's National Insurance raid will hit "working people"

It was not all that long ago the Labour Party was campaigning for government, promising to prioritise economic growth, and reassuring voters that vast tax rises were not necessary. Yesterday’s Budget put paid to that.

Evening Standard

Farmers will have to stump up hundreds of thousands of pounds, Tories claim

Business minister Douglas Alexander defended the Government’s reforms of inheritance tax, saying ‘difficult and necessary choices’ had to be made.

Evening Standard

Jeremy Hunt to step down as shadow chancellor with end of Tory leadership race in sight

The shadow chancellor, who narrowly retained his seat in the election, says he’s unlikely to return to the frontbenches for ‘the next few years, at least’

The Independent UK

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UK house sales jumped 9% in September, says HMRC

Across the UK, an estimated 91,820 home sales took place in September, which was also a fraction higher than in August.

The Independent UK

Extra Budget cash for Scotland will not see two-child cap axed, Robison suggests

The Scottish Finance Secretary also appeared to indicate the money will not be used to restore universal winter fuel payments to pensioners.

The Independent UK

Millions of workers to see £600 pay rise hit from National Insurance hike on businesses, says Budget watchdog

The Office for Budget Responsibility stressed three quarters of the rise in National Insurance on employers would ultimately feed through into lower wage increases for employees

Evening Standard

UK politics: Starmer insists pro-growth policies on way after OBR’s budget warnings – as it happened

PM says budget just ‘first step’ after watchdog said measures would make no difference to growth over five years

The Guardian - UK

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Taxes to rise higher AGAIN in next few years and wage increases hit, warn IFS economists after Reeves Budget

The Institute for Fiscal Studies also stressed that much of the National Insurance rise on employers would feed through into smaller pay rises for workers

Evening Standard

Post-budget sell-off of government bonds by worried City traders intensifies, pushing up UK borrowing costs – as it happened

Institute for Fiscal Studies says increasing borrowing to fund investment ‘right thing to do’

The Guardian - UK

Replacement Bakerloo line trains can be 'explored' thanks to Budget, says Sadiq Khan

Mr Khan said the Budget was ‘the best’ he’d heard as mayor, but critics say he has ‘quietly dropped’ his biggest asks

Evening Standard

Kirstie Allsopp accuses Rachel Reeves of breaking up farms and estates after Budget

TV presenter says inheritance tax of 20% over £1m announced in Budget will stop farmers passing on businesses to children

The Independent UK

Lack of reform to child benefit bad news for single-parent families, says Martin Lewis

Chancellor Rachel Reeves keeps in place system branded ‘unfair’ on single parents earning over £60,000

The Independent UK

Will Rachel Reeves’s borrow-and-spend Budget actually work?

ANALYSIS: Business will bear the burden of this Budget, so the chancellor must hope it delivers a better economy, says Howard Mustoe

The Independent UK

Leaderless Tories can’t comment on biggest Budget for three decades

The Tories said the party wouldn’t be making detailed comments on the fiscal event

The Independent UK

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The Independent UK

NI budget for next year is biggest in history of devolution, Government insists

Stormont finance minister Caoimhe Archibald said while the settlement was encouraging, it was not enough to plug a projected funding gap.

The Independent UK

Rachel Reeves gambles on £40bn tax rise in her first Budget

With a £40bn hike, Rachel Reeves delivered the highest level of tax increases ever announced in a Budget, but questions remain as to whether her measures will deliver the economic growth she hopes for

The Independent UK

NHS receives major Budget boost but ‘lacklustre’ social care settlement will hit councils, experts warn

Government’s Budget settlement for the NHS will not ‘drastically improve care’ this year, experts say

Evening Standard

Reeves uses first Budget to hike taxes, increase borrowing and boost spending

Chancellor Rachel Reeves used Labour’s first budget since 2010 to put extra money into public services but sent taxes to a post-war high.

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Evening Standard

First-year tax rates for petrol, diesel and hybrid cars set to rise following Budget

First-year VED rates will increase by more than double after the announcement.

Evening Standard

FTSE 100 drops to two-month low as bond yields rise after Budget

The FTSE 100 finished 59.98 points, or 0.73%, lower to end the day at 8,159.63.

Evening Standard

Budget 2024 calculator: How will Chancellor Rachel Reeves' statement affect you?

Our ready reckoner calculator will allow you to work out whether you are better or worse off

The Independent UK

Inflation and mortgage rates elevated by Chancellor’s spending plans, says OBR

Chancellor Rachel Reeves announced almost £70 billion of extra spending each year in her maiden budget.

The Independent UK

Tax calculator: See how Rachel Reeves’ Budget will affect you

Use our Budget calculator to determine whether Reeves’ announcements will leave you better or worse off

The Independent UK

Budget watchdog finds £9.5bn shortfall in previous government’s spending plans

Rachel Reeves’ Budget on Wednesday afternoon sought to address a ‘black hole’ in finances.

The National (Scotland)

Scottish Government gives cautious welcome to Labour Budget

THE Scottish Government has given a cautious welcome to spending pledges in the Budget.

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