This is Money Podcast What does the Budget mean for you - and did Rachel Reeves do a good job?
Nov 1, 2024
56:05
Rachel Reeves' maiden Budget this week saw the first-ever female chancellor make £40billion of sweeping tax rises to plug funding gaps, everywhere from the NHS and schools.
While it left many of us with something to be miserable about when it comes to our money, there were also some important dodged bullets, as Simon Lambert, Georgie Frost and Helen Crane discuss on this week's podcast.
Among the losers were landlords, investors and those who have stashed wealth in their pension, as stamp duty, capital gains tax and inheritance tax all came under the spotlight.
The attack on the middle classes was perhaps to be expected from a Government which has told us those with the broadest shoulders must bear a bigger burden.
But aside from a rise in the minimum wage and 1p off a pint, did the Budget give enough of a boost to 'working people' - and will changes to employers' National Insurance Contributions indirectly hit them in the pocket anyway?
Given growth was the buzzword of the Labour election campaign, did Reeves miss an opportunity to get people excited about British industry and entrepreneurship?
We also dig into what wasn't announced in the speech, including a not-so-fond farewell to the short-lived British Isa, and a child benefit change that could have helped parents but found itself on the scrapheap.
While it left many of us with something to be miserable about when it comes to our money, there were also some important dodged bullets, as Simon Lambert, Georgie Frost and Helen Crane discuss on this week's podcast.
Among the losers were landlords, investors and those who have stashed wealth in their pension, as stamp duty, capital gains tax and inheritance tax all came under the spotlight.
The attack on the middle classes was perhaps to be expected from a Government which has told us those with the broadest shoulders must bear a bigger burden.
But aside from a rise in the minimum wage and 1p off a pint, did the Budget give enough of a boost to 'working people' - and will changes to employers' National Insurance Contributions indirectly hit them in the pocket anyway?
Given growth was the buzzword of the Labour election campaign, did Reeves miss an opportunity to get people excited about British industry and entrepreneurship?
We also dig into what wasn't announced in the speech, including a not-so-fond farewell to the short-lived British Isa, and a child benefit change that could have helped parents but found itself on the scrapheap.