Episode 3: Budget Fallout - Weighing the Aftermath

In this episode of The Finance Geeks, Paul Cleworth and Warren Shute dig into the aftermath of the UK’s Autumn Budget, one of the biggest tax-raising budgets since 1993. With the government targeting £40 billion in taxes, they break down the key changes, including rises in employer National Insurance, adjustments to Capital Gains Tax, and a boost in the minimum wage.

They highlight the government’s 180-degree shift on tax policy, increasing taxes despite prior promises, and share insights on how these adjustments will impact businesses, investors, and homeowners alike.

Paul and Warren share advice for proactive planning in response to these changes, guiding listeners on how to stay ahead in this evolving financial landscape and keep the financial scales tipped in their favour.

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Chapters: 0:00 - Intro

4:59 - The Budget Fallout

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Podcast References:

The Budget - Autumn Budget 2024 – HC 295

https://assets.publishing.service.gov.uk/media/672232d010b0d582ee8c4905/Autumn_Budget_2024__web_accessible_.pdf

AUTUMN-STATEMENT – Tandem Budget Guide

https://tandemfinancial.co.uk/wp-content/uploads/2024/10/AUTUMN-STATEMENT-24_spreads.pdf

Chancellor Rachel Reeves admits she was 'wrong' to say higher taxes not needed during election | Sky News

https://news.sky.com/story/chancellor-rachel-reeves-admits-she-was-wrong-to-say-higher-taxes-not-needed-during-election-13247364

Republicans win Senate majority | AP News

https://apnews.com/live/senate-house-election-updates-11-5-2024

Autumn Budget 2024: Pensions to be subject to inheritance tax

https://www.moneysavingexpert.com/news/2024/10/pensions-liable-inheritance-tax-2027/

Pensions face “double tax” due to inheritance tax change - what are your options? | MoneyWeek

https://moneyweek.com/personal-finance/pensions/pensions-face-double-tax-due-to-inheritance-tax-change-options

Laffer curve - Wikipedia

https://en.wikipedia.org/wiki/Laffer_curve

Autumn Budget 2024: what do the experts say about the major changes? | Unbiased

https://www.unbiased.co.uk/news/personal-finance/autumn-budget-2024-what-do-the-experts-say-about-the-major-changes

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This show is designed to be informational only and does not constitute investment or financial advice. Please contact a regulated financial adviser before taking any specific action.