From cheaper pints to changes to Carers Allowance, these are some of the key announcements from the 2024 Budget
Chancellor Rachel Reeves has announced that the Government have reinstated the planned City Region and Growth Deals for Northern Ireland after the were paused earlier this year.
“These Growth Deals are crucial to delivering on the UK Government’s clear priority for sustainable economic growth and the NI Executive Economic plan to boost regional economic performance by delivering good jobs, increased productivity and reduced carbon emissions. We look forward to engaging with the Northern Ireland Office in the coming weeks to progress these Deals to their respective next stages.
“First, we inherited the last government’s plans to reform the work capability assessment. We will deliver those savings as part of fundamental reforms to the health and disability benefits system that the Work and Pensions Secretary will bring forward. “For the first time, we will move towards a single adult rate, phased in over time, by initially increasing the National Minimum Wage for 18-20 year olds by 16.3% as recommended by the Low Pay Commission, taking it to £10 an hour.”
The Chancellor nodded to the Work and Pensions Secretary Liz Kendall’s review of overpayments to Carer’s Allowance claimants, saying: “I am also concerned about the cliff-edge in the current system and the issue of overpayments.” “I have concluded that in these difficult circumstances while the cost of living remains high and with a backdrop of global uncertainty increasing fuel duty next year would be the wrong choice for working people.
“We are asking business to contribute more, and I know that there will be impacts of this measure felt beyond businesses, too as the OBR have set out today. But in the circumstances that I have inherited, it is the right choice to make. “This will allow a small business to employ the equivalent of four full-time workers on the national living wage without paying any national insurance on their wages.”
She added: “Alongside an additional one-off increase in tobacco duty to maintain the incentive to give up smoking. “First, the previous government froze inheritance tax thresholds until 2028. I will extend that freeze for a further two years, until 2030. The Chancellor told the Commons: “I can confirm that alcohol duty rates on non-draught products will increase in line with RPI from February next year, but nearly two-thirds of alcoholic drinks sold in pubs are served on draught.
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