'I'm a cancer patient - it's great that Labour is putting NHS first in Budget'

Denise Clarke, 60, has been reliant on the health service after being diagnosed with kidney cancer in August 2023 - she praised Rachel Reeves's pledge to bring down NHS waiting lists.

Denise, from Lewisham, South London, has been reliant on the health service after being diagnosed with kidney cancer in August 2023. The mother-of-four had to quit her Asda supermarket job as a consequence and is now reliant on Universal Credit and Personal Independent Payment handouts.

Denise welcomed the Chancellor's £25bn cash injection in the NHS and a promise to deliver an extra 40,000 elective appointments per week She added: "I've seen how bad things are in the NHS first hand."

Read the full story here.

'I don’t know where I stand. I’m not really very well, my bones are hurting, and I need my house to be warm'

Pensioner Pritpal Kaur is worried that there appears to be no help in the Budget 2024 after she lost the winter fuel allowance.

The 73-year-old, from West London, is recovering after chemotherapy and fears she may not be able to afford her bills.

Pritpal, who is a part-time shop assistant, said: “There was nothing I saw about the winter fuel, I don’t know where I stand. I’m not really very well, my bones are hurting, and I need my house to be warm, I need my electric blanket and hot water bottle.”

Read the full story here.

Furious pub landlord blasts budget measures that will "do more damage"

A furious pub landlord has blasted the new budget, saying lower duties on draught drinks won't "leave a dent" as alcohol duty on spirits is set to raise.

Megha Khanna, Owner of London-based Gladstone Arms said: “A penny off a pint barely leaves a dent. Pubs are more than just pints and the increase in alcohol duty on spirits will cause more damage to a sector that’s already struggling.

“The Chancellor had the opportunity to heed concerns but instead this will ultimately cost jobs, reduce investment and damage growth .

“In reality we need to support our pubs or we will face neighbourhoods that are increasingly full of chains and only those that can afford to be in it.”

Rachel Reeves' Budget is doing what Labour was elected to do - spend its way to growth

This was a Budget that will go down in history, The Mirror's Jason Beattie write in his opinion piece on today's announcements.

It will be remembered as the first Budget delivered by a woman Chancellor. But Rachel Reeves is also hoping it will be recorded as the moment Labour began the hard work of rebuilding the country after 14 years of Conservative neglect.

As we learned by the time she sat down after her 77-minute speech, this historic task requires historic levels of tax rises and historic amounts of public spending. Whereas the Tories have sought to cut their way to prosperity, Labour wants to spend its way to growth.

Billions of pounds will be spent on recruiting more teachers, cutting NHS waiting lists, upgrading train lines and investing in jobs. This, after all, is what Labour was elected to do.

Read the full story here

"Whereas the Tories sought to cut their way to prosperity, Labour wants to spend its way to growth.

"Billions will be spent on teachers, the NHS, train lines and investing in jobs. This, after all, is what Labour was elected to do."

@JBeattieMirror https://t.co/RZkcTxohZH pic.twitter.com/CwqS4mu0Sn

— The Mirror (@DailyMirror) October 30, 2024

Head of Scotch Whisky Association blasts ‘tax discrimination on Scotland's national drink’

Mark Kent, the Chief Executive of the Scotch Whisky Association has slammed the increased duty on Scotch Whisky in todays budget, calling the move ‘tax discrimination’.

“This duty increase on Scotch Whisky is a hammer blow, runs counter to the Prime Minister’s commitment to ‘back Scotch producers to the hilt’ and increases the tax discrimination of Scotland’s national drink,” Mr Kent said.

“On the back of the 10.1% duty increase last year, which led to a reduction in revenue for HM Treasury, this tax hike serves no economic purpose. It will damage the Scotch Whisky industry, the Scottish economy, and undermines Labour’s commitment to promote ‘Brand Scotland’. She has also increased the tax discrimination of spirits in the Treasury’s warped duty system, and with 70% of UK spirits produced in Scotland, that will do further damage to a key Scottish sector.

“The disastrous 10.1% duty hike last year has now been compounded. This further tax rise means the lessons have not been learned, and the Chancellor has chosen continuity with her predecessor, not change.”

Today's @hmtreasury Budget increased duty on #ScotchWhisky, increased the tax discrimination on Scotland's national drink, and broke the Prime Minister’s commitment to ‘back Scotch producers to the hilt.’

Our full reaction from @MarkAGKent https://t.co/IjfgeMVEJ9 pic.twitter.com/HyWYjxwegw

— Scotch Whisky Association (@ScotchWhiskySWA) October 30, 2024

Fuel, pints, tobacco and vaping tax

While the government announced dozens of big changes in today’s budget, it is easy to overlook the smaller things among the billions in funding for major government departments and massive projects.

Here are a few smaller tweaks that might affect your day-to-day spending habits.

Fuel duty - the chancellor said fuel duty will be frozen this year and next and the existing 5p cut will be maintained.

Draught alcohol duty - this tax is set to be cut bt 1.7% making draught drinks bought in pubs 1p cheaper if the savings are passed on.

A new tax on vaping liquid of of £2.20 per 10ml was announced and is set to come into force in October 2026

The price of soft drinks will rise in line with inflation, the government said the hike to the drinks levy would raise nearly £1bn per year .

Martin Lewis warns NI squeeze on firms could hit workers

Money Saving Expert Martin Lewis has warned that the increase in employers' National Insurance contributions set out in today’s budget could also hit workers.

Business owners could face having to pay £615 per employee more than they currently do, potentially pushing employers to cut wages, he said today.

Speaking on BBC Radio 5 Live he explained: “We need to be honest here, that cost will either be met out of profits - unlikely, increasing consumer charges - possible, or decreasing future benefits and salaries for employees - possible.”

The Office for Budget Responsibility has said it estimates that growth in household disposable incomes will stall in 2026-27 and 2027-28 as a result of the increased squeeze on firms.

Labour’s budget leaks criticised by Treasury figure

Labour has come in for criticism for leaking “so much” of the budget ahead of today’s official announcement.

Dame Meg Hillier, chair of the Treasury select committee, welcomed the budget but said she was “disappointed” in the amount of leaking of details beforehand.

Dame Meg Hillier told MPs: “I am disappointed that so much of this budget was revealed before today. This is not normal practice, and I hope going forward that the courtesy to this house and to the Treasury select committee means that constituents and MPs representing them will be the first to know about major issues, and that that will, from now onwards, be a hallmark of Treasury engagement.”

Chancellor acts to improve ‘crumbling’ schools with billions extra for education

The Chancellor pledged to improve school buildings “not fit for our children” as she unveiled billions of extra spending for education.

The core schools budget will rise by £2.3 billion next year to support the recruitment of 6,500 new teachers in England, the Government has said. A Treasury document said £1 billion of this funding will go towards supporting the special educational needs and disabilities (Send) system.

In her first Budget, Rachel Reeves also promised £1.4 billion to help rebuild schools and £2.1 billion to improve school maintenance to ensure all “children can learn somewhere safe”.

She told the Commons: “My school, like so many others, was rebuilt by the last Labour government. But today, after 14 years of Tory government, progress has gone backwards – school roofs are crumbling and millions of children are facing the very same backdrop as I did. I will be the Chancellor that changes that.”

Ms Reeves also pledged an additional £300 million for further education (FE) and a “tripling” of investment in breakfast clubs to give every child “the best possible start to the school day”.

Chancellor allocates 'increase in funding' for BBC World Service

The BBC World Service has been given an "increase in funding" as part of the Budget that will allow for the corporation's language services to keep going. Under its current support package, the BBC had agreed not to close any language services on the World Service - but this condition had been set to be lifted in 2025.

The international broadcaster, owned and operated by the corporation, receives a grant of £104.4 million from the Foreign, Commonwealth and Development Office (FCDO), and is predominantly funded by the UK licence fee. Chancellor Rachel Reeves delivered the first Labour Budget since 2010 to the House of Commons on Wednesday.

The Budget says: "In 2025-26, the (FCDO) settlement provides an increase in funding to the BBC World Service, protecting existing foreign language service provision and its mission to deliver globally trusted media, in support of the UK's global presence and soft power."

A BBC statement said the broadcaster "welcomed the funding", along with being "pleased the Government has acknowledged the strong case for investing in the World Service".

It added: "Today's announcement will enable us to maintain all of our existing language services, to continue fighting disinformation around the world, and also to provide emergency information services to those in crisis, as we have recently done in Gaza, Sudan and Ukraine.

"However, despite today's announcement, the BBC World Service is not immune to the immense pressures facing the rest of the BBC - freezes to the BBC licence fee, materially significant global inflation, and the need to make investments for tech and digital upkeep." The statement added it will "need to work through the detail", and say more on the settlement soon.

More than £13bn set aside for infected blood and Horizon scandal victims

Billions of pounds of funding will be set aside to compensate the victims of two major public scandals, Rachel Reeves has announced in the Budget.

Some £11.8 billion will be set aside to compensate those impacted by the infected blood scandal and £1.8 billion to compensate the victims of the Post Office Horizon scandal, the Chancellor told the Commons. Public inquiries into both scandals have recommended swift and generous compensation packages for those who have suffered injustices, but Ms Reeves claimed the previous Conservative government had “failed to budget” for the costs of this.

In her Budget speech, the Chancellor told MPs: “The previous government also failed to budget for costs which they knew would materialise.

“That includes funding for vital compensation schemes for victims of two terrible injustices: the infected blood scandal and the Post Office Horizon scandal. The Leader of the Opposition (Rishi Sunak) rightly made an unequivocal apology for the injustice of the infected blood scandal on behalf of the British state, but he did not budget for the costs of compensation.

“Today, for the very first time, we will provide specific funding to compensate those infected and those affected, in full, with £11.8 billion in this Budget. I am also today setting aside £1.8 billion to compensate victims of the Post Office Horizon scandal, redress that is long overdue for the pain and injustice that they have suffered.”

Some 30,000 NHS patients were given blood products contaminated with HIV or hepatitis C between the 1970s and the early 1990s. The scandal has not only led to thousands of deaths, but long-term impacts on the lives of those affected and their families.

Taxes, borrowing and spending up in Rachel Reeves’ first Budget

Rachel Reeves announced £40 billion a year in extra taxes as she increased Government borrowing and spending to “rebuild Britain”.

The Chancellor’s plans will see the tax burden reach an historic high, while borrowing increases by an average £32.3 billion a year as spending increases by around £70 billion annually over the next five years. Ms Reeves said the measures were necessary to address the “black hole” in the public finances left by the Tories while pumping billions into schools and hospitals.

She confirmed plans to hike employers’ national insurance contributions and increase capital gains tax, while also making changes to inheritance tax and stamp duty. And changing the way government debt is measured allowed her greater flexibility to borrow, resulting in what the Office for Budget Responsibility (OBR) called “one of the largest fiscal loosenings of any fiscal event in recent decades”.

The tax burden will reach 38.3% of gross domestic product (GDP) in 2027-28, the highest since 1948 as the UK recovered from the impact of the Second World War.

Major ISA update confirmed by Rachel Reeves - what you need to know

UK Tax Burden to hit 'historic high, warns OBR watchdog

The overall tax burden in the UK is forecast to rise from the equivalent of 36.4% of GDP (gross domestic product, or the total value of the economy) in 2024/25, to a “historic high” of 38.3% in 2027/28, according to the Office for Budget Responsibility (OBR).

This is 5.2 percentage points above the pre-pandemic level of 33.1% in 2019/20. The level is forecast to then fall slightly in 2028/29 to 38.2%.

The increase is driven “mainly by personal taxes”, including the impact of changes in employer rates of national insurance, and “capital taxes”, reflecting the likely path of equity and property prices, the OBR said.

Comparable data showing the overall UK tax burden or “tax take” as a share of GDP begins in 1948.

Lib Dem leader hails Budget as a 'very historic day' - but issues warning for Labour

The Budget marks a "very historic day" in the Commons, Liberal Democrat leader Sir Ed Davey has said, but he warned it may not offer people "a sense of hope, urgency and the promise of a fair deal".

Sir Ed told the Commons: "This is a very historic day - the first Budget that's been presented by a female Chancellor (Rachel Reeves). And I want to congratulate the Chancellor and I'm sure she's blazing the trail for women and girls who are watching our proceedings today.

"There can be no doubt about the enormous task that's facing the Chancellor today. After years of chaos and decline under the Conservatives, their appalling economic legacy, set out so clearly in the figures today, is being felt by people across the United Kingdom.

"So people were looking to this Budget for a clean break with those failures of the last few years, for a sense of hope, urgency and the promise of a fair deal.

"But I fear the Budget won't deliver all that. The Conservatives left behind an enormous mess in our NHS but I'm afraid it won't be fixed unless the Government fixes social care, too. The cost of living crisis won't be solved by hitting families, pensioners, family farms and struggling small businesses, and our economy won't grow strongly again unless we repair our broken relationship with Europe."

Increases in train fares and price of railcards announced

Regulated train fares in England will increase by up to 4.6% next year and the price of most railcards will rise by £5, the Government has announced.

The increase in fares is one percentage point above July’s Retail Prices Index (RPI) measure of inflation, which until 2023 was used by Westminster governments to set the cap on annual rises in regulated fares.

A Budget document published by the Treasury stated that the 4.6% rise will be “the lowest absolute increase in three years”. Changes to fares will come into force on March 2 2025.

About 45% of fares on Britain’s railways are regulated by the Westminster, Scottish and Welsh Governments. They include season tickets on most commuter journeys, some off-peak return tickets on long-distance routes, and flexible tickets for travel around major cities.

Train operators set rises in unregulated fares, although these are likely to be very close to changes in regulated ticket prices because the companies’ decisions are heavily influenced by governments due to contracts introduced because of the coronavirus pandemic.

The Budget document also stated that the Government will “agree” to a £5 increase in the price of most railcards “subject to an industry proposal”. The railcard for disabled passengers will be unchanged. The Treasury said railcards, which generally cost £30 per year, save users an average of “up to £158” annually.

Employer national insurance hike will be felt 'beyond businesses', Chancellor admits

The Chancellor has admitted that hiking employer national insurance will be felt “beyond businesses”, as critics warn changing the UK’s second-biggest tax will have a knock-on impact on hiring, wages and staff benefits.

Rachel Reeves announced the tax increase in her autumn Budget statement to the House of Commons. The rate of employers’ national insurance (NI) will rise by 1.2 percentage points, from 13.8% to 15% from April next year.

The secondary threshold – meaning the level at which employers start paying the tax on each employee’s salary – will also be reduced from £9,100 a year to £5,000.

Ms Reeves said the measure would raise £25 billion per year until the end of its forecast period. “I know this is a difficult choice,” Ms Reeves said, adding: “I do not take this decision lightly. We are asking business to contribute more, and I know that there will be impacts of this measure felt beyond businesses.”

Former Tory donor turned Labour supporter welcomes Chancellor's budget

Former Tory donor turned Labour supporter John Caudwell welcomed the Budget, saying it showed Labour had “got the memo” on running the country like a business.

The billionaire Phones 4 U founder said: “I am a firm believer that the country needs to be run like a business, and today’s Budget shows some signs that the Labour Government has got the memo. The Chancellor’s proposed change to fiscal rules regarding debt is evidence of this, and it could go some way towards stimulating the economic growth that has been promised, and which the UK so badly needs.

“The resulting release of tens of billions of pounds of investment would be a vital shot in the arm for Britain, and it is encouraging to see clean energy and the green economy high on the infrastructure shopping list. Proper management and oversight of how and where this money is invested will be absolutely vital, not just to allay any jitters in the financial markets but also to make sure we are driving real prosperity for Britain and the British people.”

He added he would have liked to have seen more detail on “a root and branch reform of the public sector”, including delivering “greater efficiencies” and shrinking the civil service.

Budget 2024: Major ISA update confirmed by Rachel Reeves - what you need to know

The Treasury has confirmed plans to scrap the British ISA - less than a year after it was announced by the previous Conservative government.

Plans for the British ISA were originally announced by then-Chancellor Jeremy Hunt earlier this year in his Spring Budget on March 6. The accounts would have given savers a £5,000 top-up to their tax-free savings allowance, on top of the existing £20,000. Despite having been billed as an effective means to encourage investment in the UK, the proposals were criticised before they had a chance to take shape.

The decision to scrap the British ISA was confirmed in documents published after the Budget, which state: "The government will not proceed with the British ISA due to mixed responses to the consultation launched in March 2024."

Read more: Budget 2024: Major ISA update confirmed by Rachel Reeves - what you need to know

Budget 2024: All the key changes and how they affect you - from tax to pensions and stamp duty

Martin Lewis gives Budget reaction as he asks 'who will pay it?'

Martin Lewis has reacted to Rachel Reeves' landmark first Labour budget, asking where money for one key announcement included in the massive document will "come from".

Taking to X, formerly Twitter following the Chancellor's landmark announcement this afternoon, he drew on the massive national insurance changes for employers, which will see larger businesses contribute 15 percent from April 2025. The pressure will be placed on those "with the broadest shoulders", she said. But Lewis has asked how the businesses will pay for a £615 per employee surge.

He said: "The change of threshold so employers now start paying National Insurance at £5,000 not £9,100 is big. For the employers who pay it, at the new 15% rate that alone's £615 increased cost per most employees per year. The question is where will that money come from, profits, increasing charges or reducing salaries/benefits?"

He added: "The reason I say 'for employers who pay it' is because the Employers Allowance for NI has been increased from £5,000 to £10,500 a year (so this is amount off employers NI bill) so small businesses won't pay it."

Read more: Martin Lewis gives Budget reaction as he asks 'who will pay it?'

Sunak has accused Labour of 'damaging the British economy for political purposes'

Rishi Sunak has accused Labour of “damaging the British economy for political purposes”.

The leader of the Opposition and former chancellor said: “The rhetoric of this Chancellor and this Prime Minister damaging the British economy for political purposes.

“You only need to look at the facts to see the Chancellor’s claims about her economic inheritance are nonsense. Labour inherited an economy with inflation back at its 2% target, mortgage rates being cut, and unemployment low. And when we left office, the United Kingdom was the fastest growing advanced economy in the world.”

He claimed Rachel Reeves inherited lower borrowing rates than France, America, Italy and Japan and the lowest debt in the entire G7. Mr Sunak added: “Labour’s claims about their inheritance are purely ludicrous. These are her choices. So stop blaming everyone else and take responsibility.”

Government to fund HS2 tunnelling work to Euston

The Government is “committing the funding required” to begin tunnelling work to bring HS2 to London Euston station, Chancellor Rachel Reeves has announced.

Ms Reeves said in her Budget speech this will encourage private investment in the area. In October last year, then-prime minister Rishi Sunak announced that extending HS2 from Old Oak Common, in the suburbs of west London, to Euston, near the centre of the capital, was reliant on private investment.

This was aimed at saving £6.5 billion of taxpayers’ money. Major HS2 construction work at a site alongside the existing Euston station has been halted since the previous March due to funding doubts.

Ms Reeves said: “We are committing the funding required to begin tunnelling work to London Euston station. This will catalyse private investment into the local area, delivering jobs and growth.”

The Commons Public Accounts Committee issued a report in February stating it was “highly sceptical” that the Department for Transport would be able to attract private investment on “the scale and speed required” to make extending HS2 to Euston “a success”.

Budget 2024: Rachel Reeves announces billions to rescue NHS and cut waiting lists

Huge pension change that will directly impact your family confirmed in Budget

Explained: How long was Rachel Reeves' Budget speech today?

Chancellor Rachel Reeves spoke for 77 minutes, meaning her Budget speech was longer than any of those delivered by her Conservative predecessors between 2010 and 2024.

The longest Budget speech delivered during that period was by Philip Hammond in October 2018, which lasted 71 minutes.

Ms Reeves’ speech was also nearly 20 minutes longer than the last time a Labour chancellor delivered a Budget, which was in March 2010 when Alistair Darling spoke for 58 minutes.

'After 14 years of failure, it's great to see a serious budget' says GMB uion head

Gary Smith, GMB General Secretary, said: “After 14 years of chaos and failure, it’s great to see a serious budget that focuses on the big issues facing our country.

“Much needed money for schools, including SEND, hospitals and a hefty wage rise for millions of low paid workers is something to be celebrated.”

NHS waiting times 'should be no longer than 18 weeks' says Chancellor

NHS waiting times should be no longer than 18 weeks, the Chancellor has said.

Rachel Reeves told the Commons: “Because of this record injection of funding, because of the thousands of additional beds that we have secured and because of the reforms that we are delivering in our NHS, we can now begin to bring waiting lists down more quickly and move towards our target for waiting times no longer than 18 weeks, by delivering our manifesto commitment for 40,000 extra hospital appointments a week.

“That is the difference that a Labour Government is making.”

Sunak claims Labour 'have fiddled the figures'

The outgoing Conservative leader points to a number of tax rises confirmed today, claiming that Labour have "fiddled the figures".

"They have raised tax to record levels, they have broken their promises, and it is the working people of this country that will pay the price."

Mr Sunak says the Office for Budget Responsibility has "declined" to back up claims of a £22bn "black hole" in public finances. "It actually appears nowhere in their report," he says.

Rishi Sunak takes to his feet to respond to Labour's Budget

Mr Sunak says the Labour Budget has broken "promise after promise" - and "has not been straight with the British people".

The outgoing Tory leader says "welfare spending is out of the control and pensioners being squeezed".

He says it "reveals the simple truth that the prime minister and the chancellor have not been straight with the British people".

"Time and again we Conservatives warned that Labour would tax, borrow and spend far beyond what they were telling the country, and time and again they denied they had such plans. But today, the truth has come out."