On October 30, 2024, British Treasury chief Rachel Reeves unveiled a budget that aims to raise £40 billion ($52 billion) to address public finance deficits and bolster U.K. public services.

While there is significant investment in public services like the NHS, concerns linger about potential funding cuts after the current fiscal year, which could lead to voter dissatisfaction.

Some individuals, like maintenance controller Chris Matthewman, expressed relief over the absence of drastic changes but were disappointed by the lack of support for working families, particularly regarding council tax and energy bills.

The Conservative Party contends that they left behind a modestly growing economy with lower debt and deficits compared to other G7 nations, a claim that has been met with skepticism.

Property expert Kirstie Allsopp criticized the current complexity of the stamp duty system, calling it ineffective and overly complicated.

Following the budget announcement, financial markets reacted moderately negatively, reflecting concerns about the government's ability to adhere to its debt and spending rules.

Overall, the budget has elicited a complex mix of reactions, showcasing the diverse financial challenges faced by constituents across the UK.

Despite a decrease in inflation, financial pressures on households remain significant, prompting mixed reactions from various sectors.

Business leaders have voiced concerns that the budget lacks a clear strategy for stimulating private sector growth, which is essential for economic recovery.

The government has committed to ensuring the minimum wage remains at two-thirds of median earnings, benefiting over three million workers.

This budget marks a historic moment as it is the first from a Labour Party government in nearly 15 years and the first ever delivered by a female finance minister in the UK.

Among the key changes, employer National Insurance contributions will rise from 13.8% to 15%, raising concerns among business owners about the impact on their operations.