Budget 2024: The first PvdA budget in 15 years is a 'mixed picture'

“The UK Autumn Budget 2024 presents a mixed picture, with a number of notable points attracting both support and criticism:

Boost for health and education: A £4 billion increase over the next two years will target the NHS and education, tackling staffing and resources amid inflation. This focus on essential services is widely welcomed as necessary to counter the pressure on public sector workers
Green economy and energy reforms: The government has allocated £2.5 billion to green energy projects, with the aim of taking steps towards net-zero emissions. While industry leaders are optimistic, some believe this falls short of the rapid change needed for renewable energy independence
Business investment incentives: Extensive tax credits are expected to boost growth, especially in the R&D and green technology sectors. The £1.3 billion set aside here is intended to strengthen the UK innovation landscape. However, some economists argue that the budget does not provide direct support to small businesses that are hardest hit by rising operational costs
Personal tax adjustments: Freezing the tax threshold means that while lower-income households will see modest relief, middle-income earners may feel squeezed by ‘fiscal barriers’. Critics point out that this could raise the cost of living for the middle class, especially given inflationary pressures

In summary, the Budget has ambitious long-term investments, but raises concerns about immediate cost-of-living relief and support for smaller businesses.”