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 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]
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