_(Tudor_Crown).svg) | |
| Presented | 6 March 2024 |
|---|---|
| Parliament | 58th |
| Party | Conservative Party |
| Chancellor | Jeremy Hunt |
The 2024 United Kingdom budget was delivered to the House of Commons by Jeremy Hunt, the Chancellor of the Exchequer, on 6 March 2024.[1][2] It was the third budget presented by Hunt since his appointment as Chancellor, and was the final budget before the 2024 United Kingdom general election.
In the budget, Hunt abolished the non-dom tax status, reduced employee's national insurance by 2%, froze alcohol and fuel duties, increased tobacco and vapes duties, extended the oil and gas windfall tax, increased the child benefit threshold, announced further energy measures, announced further levelling-up funding, reduced capital gains tax by 4%, extended the Household Support Fund and increased the VAT threshold to £90,000 for small businesses, and kept income tax personal allowances at the same level (fiscal drag) [3][4]
The Budget announced the "biggest ever funding boost from government" for renewable energy.[5] Further funding for science and technology investment were announced,[6] with more investment to come from the private sector.[7][8] The budget announced more measures to protect farmers with the agricultural property relief.[9]
- ^ "Spring Budget 2024 speech". GOV.UK. 6 March 2024. Retrieved 7 March 2024.
- ^ "Spring Budget 2024". GOV.UK. 6 March 2024. Retrieved 7 March 2024.
- ^ "Budget 2024 live: Jeremy Hunt cuts National Insurance and extends child benefit in Budget". BBC News. 5 March 2024. Retrieved 6 March 2024.
- ^ "A Levelling Up Budget". GOV.UK. Retrieved 7 March 2024.
- ^ "Over £1 billion budget for renewable energy auction". GOV.UK. Retrieved 7 March 2024.
- ^ "Spring Budget puts UK on fast-track to becoming science and technology superpower". GOV.UK. Retrieved 7 March 2024.
- ^ "AstraZeneca plans £650 million investment in UK". GOV.UK. Retrieved 7 March 2024.
- ^ "Great British Nuclear to buy two Hitachi sites for new nuclear development". GOV.UK. Retrieved 7 March 2024.
- ^ "Budget boost for farmers and environment with extension to Agricultural Property Relief". GOV.UK. Retrieved 7 March 2024.
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