On 30th October, Chancellor of the Exchequer Rachel Reeves will deliver the Autumn Budget, accompanied by a full fiscal statement from the Office of Budget Responsibility (OBR)
Menzies’ sector and service line predictions and wish list can be found below.
Sector Predictions
Retail
In anticipation of this year’s Autumn Budget, Menzies’ Retail Sector Team have compiled a Wishlist for the sector, covering key areas such as VAT, business rates, the national living wage, and the employer national insurance allowance, highlighting the measures businesses should focus on.
Hospitality & Leisure
With the new Labour Government’s first budget approaching on 30th October 2024, our Hospitality & Leisure team are looking ahead to what Keir Starmer could do to alleviate the ongoing challenges faced by the sector. The messaging coming out of Downing Street suggests the budget may be better placed on Halloween one day later, but our team are calling for positive change to propel the industry forward.
Financial Services
As the Autumn Budget nears, Menzies’ Financial Services team have compiled a Wishlist for the sector, covering key areas such as FinTech, and skilled workers in the industry.
Property
Menzies’ Property Sector Team share their wish list for the sector, covering areas such as the private rental sector, housing and public infrastructure.
Technology
As the Autumn Budget nears, Menzies’ Technology Sector Team have compiled a Wishlist for the sector, covering key areas such as concerns over the cuts to AI plans, investment in HMRC and expectations for the short to mid-term.
Manufacturing
As the Autumn Budget nears, Menzies’ Manufacturing sector team have compiled a Wishlist for the sector, covering key areas such as a government tax roadmap, full expensing, innovation, and education investment for the sector.
Transport & Logistics
Andrew Galliers, Partner and T&L sector specialist at Menzies shares Menzies’ Transport & Logistics team’s wish list, and how the Autumn Budget could significantly impact the T&L sector.
Service Line Wish List & Predictions
Tax
This Autumn Budget will be announced against a backdrop of plateaued economic growth, diminishing living standards and above target inflation. With a recent change in Government promising to fill the tax gap, the Prime Minister has warned the budget will be “painful”. So, what might the new Labour Government announce as part of the “painful” budget, and will it strike the right balance between remaining optimistic while attempting to resolve the current economic position? See our Autumn Budget 2024 Predictions and Wish List below.