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Autumn Budget 2024

On 30 October 2024, Chancellor Rachel Reeves will deliver the Autumn Budget, accompanied by a forecast from the Office for Budget Responsibility. Read ICAEW's reaction and analysis.

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Representation

Budget must take immediate action on growth, says ICAEW

The Chancellor must put incentivising growth at the heart of the Budget, says ICAEW, as it calls for long-term fiscal planning, a fundamental review of the tax system and investment in skills and green technologies.
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Insights

ICAEW makes its case for Budget tax measures

ICAEW has set out its recommendations for the business tax roadmap to be published at the Budget and has encouraged the government to carry-out a wider review of the tax system. ICAEW's Tax Faculty goes through the details.
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Insights and news

Chancellor promises to improve the tax system
  • Article
  • 24 Sep 2024
Ahead of the Budget on 30 October 2024, the government has provided an update on how it intends to deliver on its commitment to reform, modernise and invest in HMRC.
Economy explainers: private schools and VAT
  • Article
  • 16 Sep 2024
The Labour government has published draft legislation removing the VAT exemption for private schools from 1 January 2025. ICAEW’s experts outline the changes.
Chart of the week: UK long-term fiscal projections
  • Article
  • 13 Sep 2024
The OBR’s latest fiscal risks and sustainability report projects that public debt could reach 274% of GDP in 50 years’ time, or 324% if likely economic shocks are included.
Economic update: is the UK economy flattering to deceive?
  • Article
  • 02 Sep 2024
The UK economy enjoyed a strong first half of the year, but falling productivity suggests that significant structural challenges remain. ICAEW Economies Director Suren Thiru discusses the implications.
Government enters crisis control mode to curb public spending
  • Article
  • 22 Aug 2024
Boost from self assessment tax receipts not enough to prevent a deficit in July as Chancellor searches for cost savings in the run up to the Autumn Budget.
Budget to be delivered on 30 October
  • Article
  • 30 Jul 2024
The government has set the date of the Budget and confirmed that VAT will be charged on private school fees paid from 29 July 2024 in relation to the school term starting in January 2025.
Q1 public finances confirm challenging finances for new government
  • Article
  • 22 Jul 2024
First quarter shortfall between receipts and spending of almost £50bn emphasises the significant challenges facing the Chancellor as she puts together her first Budget.
Data, skills and building trust: what’s in the King’s speech?
  • Article
  • 18 Jul 2024
A bumper King’s speech marked the state opening of parliament, containing 40 bills. These are the most relevant for business.

Autumn Budget webinar

Changes to the tax landscape are widely anticipated, but how significant will those changes be? Join the Tax Faculty on 1 November 2024 for commentary and discussion on the Autumn Budget announcements in this essential webinar.

 
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Tax

Policy and public affairs

Influencing policy to support you: September 2024
  • Article
  • 26 Sep 2024
As parliament returned from the summer recess, ICAEW was finalising its Budget submission – urging immediate action to provide clarity over business taxes and stimulate growth – and gearing up for the political party conference season.
ICAEW engages with new government
  • Article
  • 12 Jul 2024
ICAEW has reached out to the Prime Minister and relevant departments offering support and outlining our priorities.
Read ICAEW's Budget submission

Business Confidence Monitor

ICAEW Business Confidence Monitor
  • Hub page
Quarterly reports on the economy which provide useful insight for finance professionals and their clients.
UK Business Confidence Monitor: National
  • Report
The latest Business Confidence Monitor (BCM) for Q2 2024 shows a sustained increase in confidence and is now at its highest level for two years, as businesses expect falling input price inflation to support further growth in demand and improved profits in the year ahead.
UK business confidence soars amid sales growth
  • Article
ICAEW’s latest Business Confidence Monitor reports a surge in UK business confidence, buoyed by lower inflation and optimistic sales projections. A confident economy sets the stage for the new Labour government to foster robust economic growth.

Further resources

Resources
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Economy

Expert analysis on the latest national and international economic issues and trends, and interviews with prominent voices across the finance industry alongside data on the state of economy.

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Resources
Analysis from ICAEW's experts on the Autumn Budget 2021 and the comprehensive spending review published on 27 October 2021.
Economy explainers

ICAEW experts offer simple guides to help understand the technical, economic jargon that is discussed when talking about public finances and the economy.

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Policy and public affairs
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Developing policy in the public interest

See the latest work from ICAEW's Public Affairs and Policy Teams to influence policy in the public interest. Read news and insights relating to our political engagement work at a regional, national and international level.

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