Budget hits employers as Reeves raises taxes by £40bn

By Daniel Gayne2024-10-30T14:59:00

Source: HM Treasury / Flickr

CIOB warns of increased ‘strain’ on SMEs despite measures to protect them from rises

The chancellor has announced £40bn in tax rises in a Budget which aimed to “restore stability” to public finances.

Rachel Reeves announced that capital gains tax (CGT), employer contributions to national insurance and stamp duty would all rise,, but included a few measures to soften the impact on housing and small-to-medium-sized enterprises

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