Budget 2024 Predictions - Which Taxes Could Rachel Reeves Hike?

29th October 2024

With the Autumn Budget set to be delivered in just a few days, speculation about which taxes Chancellor Rachel Reeves will opt to raise has reached fever pitch.

On entering No 11 Downing Street, Reeves commissioned the Treasury to conduct a thorough spending audit, which she claimed unearthed a "fiscal black hole" of £22bn, paving the way for a slew of tax rises that hadn't been in her party's manifesto.

Since then, reports have surfaced suggesting the Chancellor could be looking to make £40bn worth of tax rises and spending cut.

It is believed that the additional tightening would help funnel additional money into the NHS and avoid the real-term cuts earmarked for unprotected departments under the Conservatives’ fiscal plan.