The Budget: Report by Wren Sterling
The first Budget from a Labour government since March 2010, and the first ever from a female Chancellor, proved to be the defining event that had been widely anticipated.
From the moment in late July when Rachel Reeves unveiled her “£22 billion black hole” and announced means-testing for the winter fuel payment, it was clear her Budget premiere would be a challenging one for both the government and the governed.
As Budget Day neared, talk of the black hole was replaced by a steady flow of rumours about tax increases and also, to a lesser extent spending cuts,
totalling as much as £40 billion. In addition, there were suggestions that
government borrowing – already overshooting the March 2024 Budget
projections by around £7 billion – would rise by £20 billion to fund NHS and infrastructure projects.
Read the full report here.
From this author
Wren Sterling named in FT Adviser Top 100 Financial Advisers list...
Wren Sterling is celebrating its eighth consecutive year of making FT Adviser’s Top 100 Financial Advisers list. The awards reflect the leading firms in the UK financial advice and wealth management markets and were announced at FT Adviser’s Financial Advice Forum event in London on the 24th September.