Rachel Reeves launched the Labour government’s first Budget since 2010 in spectacular style. There were four mentions of the “£22 billion blackhole” inherited from the previous government to set the scene before the announcement of a £40 billion a year tax rise. This will prove to be the largest tax raising budget in over forty years and will take the tax burden in this country to the highest in the post-second world war era.

Unfortunately, the tax raid was aimed at a very small number of targets – employers, landowners, business owners and those owning assets. Employers will bear the brunt of the revenue raising measures which makes it impossible to see how this will lead to the pledge made by Rachel Reeves to “invest, invest, invest” to grow the UK economy. The impact for any employers, other than the very smallest of employers, will profoundly impact on investment decisions made by businesses as well as profitability and longevity of many of the UK’s businesses.

Below is a summary of the main measures announced in the Budget.

If you are affected by any of the measures announced and want to know more, please get in touch with your usual M+A Partners contact who will be pleased to help.

Autumn Budget, Key Measures

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