More details: Found hereThe Budget is an important moment for any government ⁘ but it's especially important for the new Labour government.
Just over three months since coming into office, this is Labour and Rachel Reeves' first opportunity to set out Labour's financial plans.
To present the country with a roadmap on how they plan to fill the much discussed £22bn black hole and fuel growth in the British economy.
Rumours always swirl ahead of budgets ⁘ but speculation seems to have reached fever pitch this time, with many believing this is the first chance for Labour to put some meat on the bone of their plans.
And small businesses look on with particular interest. Since winning the general election in July 2024, Labour continue to make it clear that they are the party for business, with several pledges made as part of their business partnership for growth .
The chancellor has suggested any increase in revenue to the Treasure is likely to be done through a combination of tax rises and spending cuts. She's reiterated many times that this will neither be at the expense of working people or through a return to austerity ⁘ and this week Reeves confirmed a technical change to the way debt is measured to free up billions for new infrastructure.
So what has the chancellor got planned for her 2024 autumn budget? How might she raise the money needed and continue to prioritise small businesses as promised? Let's round-up some of those rumours ahead of Budget Day.
Labour has already said they will cap corporation tax at 25% for the duration of this parliament. Corporation tax is the tax businesses pay on their profits ⁘ so a cap, at least, is welcome news.
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