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The chancellor has unveiled the budget for 2024. Here are the key points:

Taxes

National insurance contributions for employees are being cut from 10% to 8% from April – impacting about 27 million workers – with savings of up to £450 a year.

Self-employed NI rates will drop by two percentage points as well.

• Higher rate of property capital gains tax will be reduced from 28% to 24%.

The non-dom tax status has been abolished. It means foreign nationals who live in the UK, but are officially domiciled overseas, will no longer be able to avoid paying UK tax on their overseas income or capital gains. A “simpler” residency-based system will arrive in 2025.

Stamp duty relief for people who purchase more than one dwelling in a single transaction, known as Multiple Dwellings Relief, is scrapped.

The furnished holiday lettings regime has been abolished because it created “a distortion meaning that there are not enough properties available for long-term rental by local people”.

Air passenger duty will be raised for non-economy class plane passengers.

The energy profits levy – the windfall tax on UK-produced oil and gas – is extended to 2029.

Budget 2024: Live updates

Benefits

The High Income Child Benefit Charge, which hits payments if one parent earns above £50,000 a year, is to move to a household-based system. The threshold will rise to £60,000 from April in the meantime. The top of the taper where it is withdrawn is raised to £80,000.

• The household support fund is extended for a further six months.

• The £90 charge to get a debt relief order is abolished.

• Repayment periods for people on low incomes who take out new budgeting advance loans will increase from 12 to 24 months.

• A new British ISA will allow a £5,000 annual investment into in UK businesses. It includes all the tax advantages of other ISAs and will be on top of the existing allowances.

• To help people save, a new British Savings Bond, delivered through NSNI, will offer a guaranteed rate – fixed for three years.

Money blog: What budget means for you

• Duty will be introduced on vaping liquids for the first time in October 2026. A one-off increase in tobacco duty will be made at the same time.

Alcohol duty

Alcohol duty freeze has been extended until February 2025. Mr Hunt said the government wants to back British pubs.

Fuel duty

• No change to fuel duty, with 5p cut announced in March 2022 still in place.

Business support

• Full expensing for businesses will apply to leased assets in future “when affordable”. Draft bill to be published shortly.

• VAT registration threshold for businesses upped from £85,000 to £90,000

• Eligible film studios in England will secure 40% relief on their gross business rates until 2034. Tax relief made permanent at 45% for touring and orchestral productions and 40% for non-touring productions.

Economy

• Office for Budget Responsibility predicts UK GDP growth of 0.8% (0.7%) in 2024 and 1.9% (1.4%) in 2025. Figures in brackets are OBR’s predictions last November.

• Office for Budget Responsibility expects Treasury borrowing of 91.7% of GDP (91.6%) in 2024-25, 92.8% (92.7%) in 2025-26. Figures in brackets are OBR’s predictions last November.

• Office for Budget Responsibility sees inflation coming in below target within “months”.

NHS / Health

NHS to get additional £2.5bn this year to tackle issues including waiting lists.

• Planned growth in day-to-day public sector spending to be maintained at 1% in real terms, but Mr Hunt says “we are going to spend it better”. Includes funding NHS productivity plan “in full” to boost digital transformation.

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Nationwide police operation on grooming gangs announced

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Nationwide police operation on grooming gangs announced

A nationwide police operation to track down those in grooming gangs has been announced by the Home Office.

The National Crime Agency (NCA) will target those who have sexually exploited children as part of a grooming gang, and will investigate cases that were not previously progressed.

Home Secretary Yvette Cooper said in a statement: “The vulnerable young girls who suffered unimaginable abuse at the hands of groups of adult men have now grown into brave women who are rightly demanding justice for what they went through when they were just children.

“Not enough people listened to them then. That was wrong and unforgivable. We are changing that now.

“More than 800 grooming gang cases have already been identified by police after I asked them to look again at cases which had closed too early.

“Now we are asking the National Crime Agency to lead a major nationwide operation to track down more perpetrators and bring them to justice.”

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Starmer to launch new grooming gang inquiry

The NCA will work in partnership with police forces around the country and specialist officers from the Child Sexual Exploitation Taskforce, Operation Hydrant – which supports police forces to address all complex and high-profile cases of child sexual abuse – and the Tackling Organised Exploitation Programme.

It comes after Sir Keir Starmer announced a national inquiry into child sex abuse on Saturday, ahead of the release of a government-requested audit into the scale of grooming gangs across the country, which concluded a nationwide probe was necessary.

The prime minister previously argued a national inquiry was not necessary, but changed his view following an audit into group-based child sexual abuse led by Baroness Casey, set to be published next week.

Ms Cooper is set to address parliament on Monday about the findings of the near 200-page report, which is expected to warn that white British girls were “institutionally ignored for fear of racism”.

One person familiar with the report said it details the institutional failures in treating young girls and cites a decade of lost action from the Independent Inquiry into Child Sexual Abuse (IICSA), set up in 2014 to investigate grooming gangs in Rotherham.

The report is also expected to link illegal immigration with the exploitation of young girls.

Read more:
Telford child abuse victims speak out
What we know about grooming gangs, from the data
The women who blew whistle on Rotherham

Kemi Badenoch, the Conservative leader, said on Saturday that Sir Keir should recognise “he made a mistake and apologise for six wasted months”.

Speaking to Sky’s Sunday Morning With Trevor Phillips, Chancellor Rachel Reeves refused to say if the government will apologise for dismissing calls for a national public inquiry into grooming gangs.

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Rachel Reeves on Sunday Morning With Trevor Phillips

She said: “What is the most important thing here? It is the victims, and it’s not people’s hurt feelings about how they have been spoken about.”

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Career spy Blaise Metreweli to become first woman to head MI6

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Career spy Blaise Metreweli to become first woman to head MI6

Career spy Blaise Metreweli will become the first woman to head MI6 in a “historic appointment”, the prime minister has announced.

She will take over from Sir Richard Moore as the 18th Chief, also known as “C”, when he steps down in the autumn.

“The historic appointment of Blaise Metreweli comes at a time when the work of our intelligence services has never been more vital,” Sir Keir Starmer said in a statement released on Sunday night.

“The United Kingdom is facing threats on an unprecedented scale – be it aggressors who send their spy ships to our waters or hackers whose sophisticated cyber plots seek to disrupt our public services.”

Of the other main spy agencies, GCHQ is also under female command for the first time.

Anne Keast-Butler took on the role in 2023, while MI5 has previously twice been led by a woman.

Until now, a female spy chief had only headed MI6 – also known as the Secret Intelligence Service (SIS) – in the James Bond movies.

A motorboat passes by the MI6 building in Vauxhall, London. Pic: Reuters
Image:
Blaise Metreweli is the first woman to be named head of MI6. Pic: Reuters

Dame Judi Dench held the fictional role – called “M” in the films instead of “C” – between 1995 and 2015.

Ms Metreweli currently serves as “Q”, one of four director generals inside MI6.

The position – also made famous by the James Bond films, with the fictional “Q” producing an array of spy gadgets – means she is responsible for technology and innovation.

Ms Metreweli, a Cambridge graduate, joined MI6 in 1999.

Unlike the outgoing chief, who spent some of his service as a regular diplomat in the foreign office, including as ambassador to Turkey, she has spent her entire career as an intelligence officer.

Much of that time was dedicated to operational roles in the Middle East and Europe.

Ms Metreweli, who is highly regarded by colleagues, also worked as a director at MI5.

Read more:
Ex-government contractor charged under Official Secrets Act
The Wargame podcast: What if Russia attacked the UK?
Chancellor dismisses ‘hurt feelings’ after grooming gangs inquiry U-turn

In a statement, she said she was “proud and honoured to be asked to lead my service”.

“MI6 plays a vital role – with MI5 and GCHQ – in keeping the British people safe and promoting UK interests overseas,” she said.

“I look forward to continuing that work alongside the brave officers and agents of MI6 and our many international partners.”

Sir Richard said: “Blaise is a highly accomplished intelligence officer and leader, and one of our foremost thinkers on technology. I am excited to welcome her as the first female head of MI6.”

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Woman, 23, dies after falling in water at beauty spot in Scottish Highlands

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Woman, 23, dies after falling in water at beauty spot in Scottish Highlands

A woman has died after falling into the water at a popular beauty spot in the Scottish Highlands.

The 23-year-old had fallen into the water in the Rogie Falls area of Wester Ross.

Police Scotland confirmed emergency services attended the scene after being called at 1.45pm on Saturday.

“However, [she] was pronounced dead at the scene,” a spokesperson said.

“There are no suspicious circumstances and a report will be submitted to the Procurator Fiscal.”

Rogie Falls are a series of waterfalls on the Black Water, a river in Ross-shire in the Highlands of Scotland. They are a popular attraction for tourists on Scotland’s North Coast 500 road trip.

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