Here’s the Budget:
- Personal tax and employer National Insurance contributions (NICs) thresholds frozen for three years from 2028
- NICs charged on salary-sacrificed pensions contributions
- Dividends, property and savings income tax up by 2%
- Two child benefit limit scrapped next year
- Pay per mile levy on electric cars
- Cuts to writing down capital allowances
- Gambling taxes worth £1.1 billion
- Freeze to fuel duty.
- A high value council tax surcharge on properties worth over £2 million
- Tax administration, compliance and debt collection measures.
- Reduced capital gains tax relief on employee ownership trusts
- Increasing the tax rates on dividends, property and savings income by 2 percentage points.
- Sizewell C regulated asset levy.
‘Headroom’ to £22 billion. £26 billion of tax rises. Welfare measures will also increase spending by £4.7 billion in 2026-27, rising to £9.3 billion in 2029-30. Tax burden also at a record high. That’s the Budget!
