The new government will deliver its first Budget on Wednesday (30 October), billed as being potentially the most important and impactful for years.
Chancellor Rachel Reeves will deliver her Budget speech on Wednesday (Credit Labour Party)
Chancellor Rachel Reeves has already flagged the need to raise £40 billion from various measures, but indicated this would mainly come from tax rises rather than spending cuts.
Increases in National Insurance employer contributions have already been highlighted as one likely announcement. There may also be changes to income tax and National Insurance thresholds, and to the levels of inheritance tax, which will all affect consumers’ spending power on things like travel.
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