Spring Budget 2024: what can we expect to see?

Spring Budget 2024: What can we expect to see?

26 February 2024

Jeremy Hunt’s Spring Budget 2024 is just over a week away, and there is already speculation about what could be announced.

The Budget is the final opportunity for the government to expose its plans before the next general election, which could be as early as May, but likely to be closer towards the end of the year. This may encourage some vote winning declarations from Hunt, such as the whispered reduction in National Insurance Contributions, or income tax.

Whilst we may see improvements for individuals, will there be any good news for businesses alongside this?

What could we see in the 2024 Spring Budget?

It is anticipated that the following actions may arise in the Chancellor’s upcoming budget:

Tax and VAT

  • Corporation tax rate cuts
  • Income tax cuts for low or middle earners
  • Stamp duty land tax increases
  • Changes in National Insurance Contributions
  • Ending, or reform of inheritance tax

Business developments

  • Employee share schemes
  • Inwards investment
  • Investment zones

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