How Labour’s 2024 Budget is helping working people

Rachel Reeves holding up a ministerial red box outside 11 Downing Street

Labour’s 2024 Budget fixes the foundations to deliver change by fixing the NHS and rebuilding Britain, while ensuring working people don’t face higher taxes in their payslips.

Labour has:

  • Protected the payslips of working people
  • Boosted pay for over three million working people with an increase to the minimum wage
  • Prioritised investment in education and the NHS

Why this Budget is important

This Budget sets out how the government will approach the economy over the next year.

Labour came into power in July 2024 and found a £22 billion black hole in the country’s finances.

The Tories just made up the figures and had no plan to pay for anything.

This is why we are fixing the foundations of the country instead of years of just papering over the cracks.

What Labour announced in the 2024 Budget

Labour’s Budget helps working people. Chancellor Rachel Reeves announced measures to fix Britain’s foundations to deliver change, including:

• New funding to deliver an extra two million NHS operations, scans and appointments a year.

• £500 million to fix local roads and fill over a million extra potholes per year

• Freeze on fuel duty.

• Protecting your payslip.

• £30 million to provide free breakfast clubs.

• £240 million package to get Britain working again.

• £1.4 billion to rebuild 500 schools.

• £500m investment to build 5,000 new social homes.

• Increase in the state pension by up to £470.

• Pay rise for three million workers.

• Former mineworkers will receive £1.5 billion that was kept from their pensions.

• The biggest increase to Carer’s Allowance eligibility since its introduction.

• £1 billion to help those facing financial hardship via the Household Support Fund.

• 40% relief on business rates, hospitality, and leisure sectors.

• Nom-dom tax status abolished.

• Increase in the employment allowance to support small businesses.

• Crack down on fraud, tax avoidance and waste.