The Student Room Group

2024 Budget: Chancellor Jeremy Hunt under pressure to cut taxes

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'Green' technologies:

Next phase of the small modular reactor

£120m more to offshore wind etc.


And a few more I missed!

Creative industries:

5% increase to tax credit

40% relief on business rates to eligible studios

New tax credit for UK independent films with budgets of less than £15m

£26m more funding to the National Theatre to upgrade the stages

Tax reliefs made permanent for theatres (45% for touring and orchestral productions, and 40% for non-touring productions)

(edited 1 month ago)
PIZA rankings ahead of European peers. One of the Gove success stories.
Current spending will increase by 1% above inflation for the next 5 years.

That means austerity outside protected departments despite departments like health and International Development needing the most reform.
3.4bn for NHS digitization.
0.8bn mentioned in media for various digital reforms.
Public sector productivity plan for the NHS:

£3.4bn investment in NHS digital systems in order to cut wasted time due to old systems and slow form-filling processes

Improvements to the NHS app so it can be used to amend appointments

All hospitals to use electronic patient records

£2.5bn in additional funding

Drones as first responders for police.
Original post by Rakas21
3.4bn for NHS digitization.

This is good.

But that is has taken 14 sodding years for the Conservatives and their voters to finally realise we need to to focus on NHS productivity is why we are paying so much for poor public services.
15 more Free Schools.


Selective Free Schools are my preferred state model.
(edited 1 month ago)
Public sector productivity plan:

£75m for violence reduction units and hotspot policing

£230m spent in rolling out technology

Drones used as first responders

£170m to fund non-court resolutions, particularly for family issues

£115m to build 50 new special free schools

(edited 1 month ago)
Original post by Rakas21
15 more Free Schools.


Selective Free Schools are my preferred state model.

No, they're to be special schools.
Taxes:

Duty on vaping products

One-off increase in tobacco duties

Increase in the tax on non-economy flights

(edited 1 month ago)
Property taxes:

Abolition of furnished holiday lettings relief

Abolition of stamp duty relief for people who buy multiple properties in one transaction

28% CGT rate for property reduced to 24%

(edited 1 month ago)
Capital gains cut from 28% to 24%.
Original post by Rakas21
Capital gains cut from 28% to 24%.

Only for property I hasten to add!
Lawson apparently to cull non-doms.
Oil and gas:

Abolish the energy profits levy should energy costs return to 'normal levels'

Sunset on energy profits levy extended to 2029

(edited 1 month ago)
Abolition of the current tax system for 'non-doms'. From April 2025, new arrivals will not pay any tax on foreign income and gains for the first four years. After four years, they will pay the same as UK taxpayers.

This will raise £2.7bn a year.
(edited 1 month ago)
4 year exemption for residents replaces non-doms regime. Not sure I like that one.
(edited 1 month ago)
Child benefit cap moving to household income rather than individual and increasing to 60-80k.

As somebody that wants a higher fertility rate for the nation, thats a good thing.

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