Rachel Reeves is delivering a historic budget - it's Labour's first since 2010, and the first ever from a female chancellor. Watch and follow live.
Rachel Reeves is delivering her long-awaited first budget.Watch live in the stream above, and we will be updating this post with the key announcements as she makes them:This budget will raise taxes by £40bn;The minimum wage will be increasing by 6.7% to £12.21, while for those aged 18-20 will get a 16.3% bump to £10 an hour;National Insurance contributions for employers will increase by 1.
2% to 15% from April 2025;The threshold at which businesses start paying NI on workers' earnings will be lowered from £9,100 to £5,000;Increasing the lower rate for capital gains tax from 10% to 18%, with higher rate going from 20% to 24%;Fuel duty will be frozen next year;£11.8bn will be provided to compensate those infected and affected by the infected blood scandal;£1.
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