UK's Reeves: Will freeze fuel duty next year
UK Chancellor Rachel Reeves is delivering the Autumn Budget.
Key takeaways
"Will increase employers' national insurance contributions by 1.2 percentage points."
"Will reduce threshold for paying national insurance to 5,000 pounds by employers."
"Will increase employment allowance for small businesses."
"I have had to take very difficult tax decisions."
"Will freeze fuel duty next year."
"Inheritance tax measures together raise over 2 billion Sterling."
"We will increase soft drinks industry levy."
"Will raise 1 billion sterling through soft drink levy and tobacco, alcohol duty increases."
"Will introduce a flat rate duty on all vaping liquids from October 2026."
"Will extend inheritance tax threshold freeze to 2030."
"Will bring inherited pensions into inheritance tax from 2027."
"Will raise air passenger duty by no more than 2 pounds for economy short haul flights."
"Will raise tax on private jet flights by up to 50%."
"Will provide 40% relief on business rates for retail and hospitality industries up to a cap."
"Day-to-day spending from 2024-25 will grow by 1.5% in real terms."
"Increasing core schools budget by 2.3 billion sterling."
"Will increase defence spending by 2.9 billion sterling."
"Will provide 3 billion Sterling a year support to Ukraine for as long as it takes."
Author
Eren Sengezer
FXStreet
As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.
