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Tough Budget for Business ⚖️ The Autumn Budget 2024 has brought some tough news for the business community. Rain Newton-Smith, CBI Chief Executive, acknowledged the Chancellor's difficult choices aimed at stabilising the economy and public finances. There's a clear focus on creating a balanced fiscal approach that prioritises capital investment - a move that should, hopefully, incentivise private sector investments in our infrastructure and the net zero transition in the long run. However, it's not all positive. The hike in National Insurance Contributions and other increases to employer costs have increased the financial burden on businesses. This could hamper investment capabilities and make it more costly to hire and reward employees. ✅ While the Corporation Tax Roadmap is a step towards stability, there's an urgent need for the government to strengthen its partnership with the private sector. Only together can we drive the investment required to grow our economy in a sustainable manner, ensuring opportunities are spread evenly across the UK. #AutumnBudget2024 #UKBusiness #EconomicGrowth

The Autumn Budget 2024: Promise or Gamble? Chancellor Rachel Reeves’ Autumn Budget aims to tackle Britain’s economic challenges head-on, with ambitious investments in the NHS and education, and a £100 billion infrastructure fund to stimulate growth. But while public services receive crucial funding, other sectors face a more complex outlook. Key Points: NHS Boost: £22 billion to help reduce waiting times and increase appointments, aiming to revitalise a system under severe strain. Education Investment: £4 billion directed at school infrastructure for safer, modern learning spaces. Creative Industries & Fashion: Only £2.3 billion for the entire creative sector, including fashion. Fashion brands, especially smaller players, face the continued weight of Brexit with high import costs and no direct budget support. SMEs: Relief with an expanded Employment Allowance, but new pressures come with employer NICs set to rise to 15% by 2025 and an increase in Capital Gains Tax, potentially discouraging reinvestment. The budget walks a fine line between investment and austerity, balancing spending on public services with increased taxes on businesses. For creative industries, fashion, and SMEs, the path forward demands resilience as they navigate today’s financial constraints with hopes for longer-term stability. Our full analysis is available in our latest newsletter; "a fine line between investment and austerity" writes our policy researcher Michelle Kazi - full writeup here: https://lnkd.in/dDfUwcGz Paid subscribers get even more insights, including our recent take on the US presidential elections and its market impact. This budget could be a turning point—or just another financial tightrope. Where do you see the future going? #Budget2024 #UKEconomy #PublicServices #CreativeIndustries #SMEs #Finance

What will the UK Autumn Budget 2024 mean for your finances and business growth? Let's break it down. 📊💼 In our latest carousel, we simplify the Budget’s major points and how they’ll impact your financial landscape. Here are three key takeaways: 1. Tax Changes 📈: Adjustments in tax rates and thresholds could reshape how we manage personal and business finances. Staying informed now can help you stay ahead and prepare for what’s coming. 2. Investment Opportunities💡: New allowances and incentives across green investments and tech innovations make this a promising time for business expansion. These changes signal substantial growth potential for forward-thinking businesses. 3. Cost of Living and Energy Relief 🔋: To support households, the budget outlines extended support for energy bills and living costs. It’s an essential move to help families maintain financial stability. Swipe through the carousel to get clear insights and practical takeaways on how to navigate these updates effectively! What part of the Budget are you most focused on? Let’s discuss in the comments! #ukbudget2024 #financialinsights #businessplanning

My Take on last week's Autumn Budget by this new The Labour Party government 👇 With Rt Hon Rachel Reeves's Autumn Budget, the government has outlined an ambitious vision for rebuilding and stabilising Britain’s economy. I personally support this direction, especially the investment in essential services like the NHS and education. These are commitments that, if successful, could make a lasting difference in people’s lives. 🌹 However, from a work perspective for Fashion Roundtable ORG LTD - it’s impossible to ignore that this strategy, grounded in high borrowing and selective tax increases, will hit businesses and individuals across various sectors. Creative industries, fashion, and SMEs are facing an uphill battle with rising costs, NICs, and limited support for post-Brexit challenges. There’s no doubt that this budget is a calculated gamble, relying on fiscal discipline today in hopes of sustainable growth tomorrow. I stand behind the government’s resolve, but also acknowledge that the path forward won’t be easy for many. As we move into this transitional phase, I’m hopeful that this bold strategy will ultimately pay off, leading to a stronger, more resilient economy for everyone. Here’s to brighter days ahead and the resilience of those navigating this new economic landscape. 🌅 Read my full analysis for Fashion Roundtable ORG LTD here: https://lnkd.in/evN6YFSp #Budget2024 #EconomicGrowth #PublicServices #CreativeIndustries #SMEs

Today, Chancellor Rachel Reeves will deliver the highly anticipated 2024 Autumn Budget.🍂💼 Key topics to watch out for include: 📈 Speculation is high that National Insurance Contributions may rise. Currently, employers pay 13.8% on earnings above £175 a week. 💰There’s talk of potential increases to Capital Gains Tax, with some critics arguing it’s time for rates to align more closely with income tax levels. This could have a big impact on investment income. ⛽Will the 5p cut on fuel duty be scrapped? With fuel duty frozen since 2011, and cut in 2022, this is one area to keep a close eye on for possible revenue-raising changes. 📢Business groups have called on the Chancellor to stimulate economic growth, address the UK's labour and skills shortages and reform the business rates system. We’ll be covering the Autumn Budget highlights and will share a comprehensive summary to keep you informed on what the changes mean for you and your business. #AutumnBudget2024 #UKEconomy #BusinessUpdates #Tax #NICs #CGT #FuelDuty #EconomicGrowth #AutumnBudget

Budget Day 2024 💼 As we await the outcome of Budget Day 2024,many of us are concerned about potential tax increases,rising interest rates,and job losses. I understand it can feel overwhelming by the uncertainty it’s not great for the country and more doom and gloom 😌 However, I encourage everyone to take a moment to reflect on our own lives - family celebrations, weekend drinks with friends and Christmas around the corner🎄 Many around the world do not share these privileges, their lives are in constant conflict fearing when the next bomb goes off, basic homes if any and worry when they will next see their loved ones if at all 😢 What we are facing is just another challenge in the UK economy, and as a society,we have proven time and time again our resilience and ability to adapt. Let’s embrace and support one another through these times. Enjoy what we do 😊 #budget2024 #UKEconomy #uncertainty #ridethewave

💷 UK Budget 2024: What to Expect With the UK Budget announcement just around the corner, anticipation is building over what the Chancellor will prioritise in response to the evolving economic landscape. From addressing inflation to focusing on growth sectors and managing debt, there’s a lot on the table. Will we see bold moves on taxation? More funding for healthcare? Or new initiatives to boost sustainable growth? 🤔 This Budget comes at a critical juncture, and there are lots of key questions including: 📉 Managing inflation — What support will there be for households facing rising costs? 📺 Sector support — What changes will impact the creative, sports and entertainment sectors? 📈 Taxation and Fiscal Policies — Will we see tax adjustments to fuel growth, especially for small and medium-sized businesses? 👩💻 Support for founder and business owners – With potential changes to capital gains tax, R&D credits, and business rates, what will this mean for start-ups and growing businesses and their ability to drive innovation and sustain growth? It’s a complex time and there are some major challenges and opportunities. Let’s hope the measures strike a balance between supporting immediate needs and driving long-term economic resilience. What are your budget predictions? 💬 And check back tomorrow for our full budget breakdown… #Budget2024 #EconomicGrowth #BusinessGrowth #CostOfLivingCrisis #Sustainability

Whatever your thoughts are on the budget, great professional advice will always help you make the right decisions in the long term. Give us a call at Harrison Beale & Owen (HB&O) or speak with Helen Coombes, the head of our fantastic tax team, or our tax director Neil Allcroft. #budget #bestadvice #toptaxteam

Budget 2024 is like a Vaccine shot, even though you knew it would hurt. It's a crucial boost for long-term health, but man, did it sting! I’d give it a 3 out of 5, and that’s me being somewhat generous. You might’ve seen different takes on my YouTube channel—everyone’s got their own opinion. The government went big on saving rather than spending, which makes sense for a secure future but doesn’t really help investors right now. It’s a tough scenario, considering not everyone gets the economics behind these decisions. Here’s what caught my eye: the fiscal deficit is kept under five percent, and they’ve tightened up on spending. That’s great for the long haul but feels like a pinch today. What really bugged me, though, was the hike in Long-Term Capital Gains Tax from 10% to 12.5%. Why make it harder to invest when we need more long-term commitments? Back in the day, LTCG was zero—encouraging big-time investments and balancing the tax scene. A little LTCG is okay to even things out, but why not throw in some perks for holding investments longer? Seems like a missed shot at boosting the economy. On the brighter side, the budget’s got some solid plans for rural and skill development. Really crucial stuff for cutting down unemployment and beefing up agriculture. And there’s buzz about the government rolling out 100 new initiatives in the next 100 days. That’s something I’m keeping an eye on—could be some exciting news on the horizon. So, wrapping this up, the budget isn’t thrilling right off the bat, but its forward-looking approach might just be what we need for steady growth. I’m sticking with my 3.3 out of 5 rating. What’s your take? Yours Truly Goela #goelasf #budget2024 #stockmarket #modi3.0

Chancellor Rachel Reeves delivered Labour’s first #AutumnBudget in 14 years last week, focusing on ‘fixing the foundations’ and delivering economic stability. Read more on this and other news in our latest #NewsinReview #Budget #OBR #USelection