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What does the Budget mean for you?

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A new paper by the free-market think tank IEA demands the Treasury to broaden its focus from inflation to total spending in the economy – which would account for both economic growth and inflation.
The Bank will be keenly looking over inflation before changing interest rates.

Rachel Reeves’ second Budget has been the most closely watched in recent memory, with media briefings and soundings on all sides.

Rachel Reeves has raised taxes by £26bn in her second Budget, which follows on from last year’s £40bn.

They will go up to well over 38 per cent of GDP by 2030, the OBR said, a significant upward revision from their March forecast of around 37 per cent.

That is in large part because Brits are particularly worried about what HM Treasury tax measures will mean for their personal finances.

Even though the Chancellor has repeatedly promised to exempt ‘working people’ from any tax hikes, the much rumoured ‘smorgasbord’ approach

Blick Rothenberg has put together this tax calculator to help you figure out how Rachel Reeves’ announcements will affect your finances.