Budget 2024

2024 - 10 - 28

Budget 2024: Where Bus Fares Go Up, But Spirits Don’t Have To!

Budget -- when is the budget Budget 2024 - Bus Fare Cap - Insurance Premium Tax - Keir Starmer - Labour Party - Private Medical Insurance - Public Transport - Rachel Reeves - Budget - when is the budget

As bus fares edge ever upwards, will the government really find a way to keep the wheels turning for public transport? Join the debate on Budget 2024 and its highs and lows!

As the UK braces for the Budget 2024 announcements, the Prime Minister has confirmed that while the bus fare cap will be extended by another year, riders should prepare for a jolting 50% increase from £2 to £3. It’s quite the rollercoaster ride for public transport users who have been grappling with rising costs across the board. While the government touts this cap extension as a lifeline, many are left wondering how this fare hike may affect their daily commutes. Could the increased costs lead to the dreaded double-decker squeeze?

In parallel to bus fares, the Chancellor Rachel Reeves is expected to unveil further reforms aimed at alleviating some of the swathes of financial strain experienced across various sectors. However, there’s caution in the air as an increase in Insurance Premium Tax (IPT) threatens to erode employers’ ability to provide private medical insurance for workers, leading to concerns over health access. With predictions suggesting that belt-tightening tactics might become the norm, many fear that premium hikes for health insurance could bring about a new level of dread just in time for flu season!

Adding more spice to the economic recipe, Labour leader Keir Starmer has stepped forward, defending what he labels ‘tough’ tax rises. He asserts that these strategies aim to pull Britain out of a ‘pay more, get less’ cycle, capturing the public’s attention and stirring controversy. Is this merely an attempt to turn the tide of Tory decline, or could it transform us into a nation of penny pinchers? It’s no wonder that Starmer’s rhetoric during his pre-Budget speech has sparked discussions on social media, as the nation eagerly awaits clarity on how these changes will play out in their wallets.

The looming fear, however, is whether these measures will unfairly target the poorest in society. The suggestion to abolish the fare cap as a means to save the Treasury £350 million a year has met fierce backlash, with 55% of surveyed individuals opposing such drastic changes. It remains to be seen if public outcry can sway government decisions or if bus passengers will have to buckle up for a bumpy ride ahead.

Interestingly, the introduction of a cap on bus fares was aimed at widening accessibility for commuters and countering climate change. With transport emissions being a major concern, will these fare increases deter people from choosing bus travel? Let’s hope that the government’s vision for public transport isn't just as high as the proposed fare!

Lastly, did you know that the average person in the UK spends over £300 a year on bus fares alone? In light of rising living costs, that’s definitely something to ponder as Budget 2024 unfolds!

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Image courtesy of "LabourList"

Budget 2024: Bus fare cap extended but set to rise 50% as union ... (LabourList)

The bus fare cap will be extended by a year but rise 50% from £2 to £3, the Prime Minister confirmed in a speech ahead of the Budget on Monday.

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Image courtesy of "COVER"

Autumn Budget 2024: Protection and health predictions (COVER)

There were also warnings that an increase in insurance premium tax (IPT) could force employers to cut back on private medical insurance (PMI) coverage for their ...

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Image courtesy of "Evening Standard"

Budget 2024: Keir Starmer defends 'tough' tax rises as he vows ... (Evening Standard)

Sir Keir Starmer said Chancellor Rachel Reeves' Autumn Statement will seek to get Britain out of a 'pay more get less doom loop'

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Image courtesy of "Mirror.co.uk"

Budget 2024: Keir Starmer vows to 'turn the page on Tory decline' as ... (Mirror.co.uk)

Speaking in Birmingham the Prime Minister said there are better times ahead, but admitted we 'have to be realistic' about where we are as a country ahead of ...

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Image courtesy of "expressandstar.com"

Prime Minister Keir Starmer delivers pre-Budget 2024 speech in the ... (expressandstar.com)

Sir Keir Starmer, the Prime Minister, has delivered his pre-Budget 2024 speech in the West Midlands today (Monday, October 28).

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Image courtesy of "Accrington Observer"

Budget 2024 bus fare axe fears spark outrage for 'targeting poorest' (Accrington Observer)

The Chancellor is expected to abolish the cost-of-living lifeline in order to save the Treasury £350million a year.

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Image courtesy of "In Your Area"

Fears bus fare cap will be scrapped in Budget 2024 a 'slap in the ... (In Your Area)

A survey by More in Common found that 55% of people are against the proposed measure reports Ben Hurst.

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Image courtesy of "carwow"

Autumn budget 2024: what it means for motorists (carwow)

Chancellor Rachel Reeves will announce the Autumn budget on Wednesday 30 October, the first one since Labour's election victory in July. But what will it ...

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Image courtesy of "The Independent"

Budget 2024 costing: How could Labour find £40bn in tax rises and ... (The Independent)

Only a few weeks after the general election, Ms Reeves revealed that the Treasury was grappling with a £22bn “black hole” in public finances, placing the blame ...

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Image courtesy of "TES News"

Budget 2024: What can schools expect? (TES News)

Chancellor Rachel Reeves will announce spending plans for 2025-26 this week. Tes breaks down what the announcement could mean for schools.

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Image courtesy of "Manchester Evening News"

When is the Autumn Budget 2024 announced? (Manchester Evening News)

The Chancellor of the Exchequer will present her Autumn Budget 2024 in Parliament this week. Rachel Reeves, who was appointed Chancellor following Labour's ...

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Image courtesy of "Yahoo Eurosport UK"

Budget 2024: What's likely to be in it – and what isn't? (Yahoo Eurosport UK)

The biggest expected revenue raiser, set to generate as much as £20bn for public services, is a hike in employers' national insurance.

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Image courtesy of "Telegraph.co.uk"

Budget 2024 predictions: When is it and which taxes will Labour raise? (Telegraph.co.uk)

Labour has been very clear that it will remove the VAT and business rates exemption from private schools. It means 20pc in tax will become due on tuition and ...

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Image courtesy of "Insider Media"

What might be in Rachel Reeves' Autumn Budget 2024? (Insider Media)

Labour's first budget in 14 years is being delivered by Chancellor Rachel Reeves on Wednesday 30 October, which she says will serve as an economic "reset" ...

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Image courtesy of "CCN.com"

UK Autumn Budget 2024 Promises 'Difficult Decisions' – Will Tech ... (CCN.com)

However, government investment won't be spread evenly throughout the technology sector. On Oct. 30, the Chancellor of the Exchequer, Rachel Reeves, will deliver ...

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Image courtesy of "Yahoo Finance UK"

When is the 2024 budget? Everything you need to know (Yahoo Finance UK)

Here's what you need to know about the UK budget, from the start time to the policy changes that Rachel Reeves is expected to make.

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Image courtesy of "Full Fact"

Autumn Budget 2024: fact checked - Full Fact (Full Fact)

Join us on Wednesday 30 October for impartial fact checks following Rachel Reeves' first Budget.

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Image courtesy of "Evening Standard"

Budget 2024: What do we know and what should we expect? (Evening Standard)

Ms Reeves is said to have since identified a far larger £40 billion funding gap which she will seek to plug to protect key departments from real-terms cuts and ...

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Image courtesy of "Manchester Evening News"

Everything we expect to be announced in Autumn Budget 2024 (Manchester Evening News)

Rachel Reeves will present her first Budget as Chancellor to the House of Commons on Wednesday, October 30, amid reports of tax hikes and spending cuts. After ...

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Image courtesy of "Morningstar"

Autumn Budget 2024: What to Expect (Morningstar)

Amendments to tax-free cash on pensions, an inheritance tax change, and major changes to borrowing are all likely to greet savers at the Budget.

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Image courtesy of "BBC News"

Budget 2024: 'I just about make ends meet on £21500 a year' (BBC News)

Because of her £150,000 salary, Yasmin does not qualify for Child Benefit payments, or help via tax-free childcare or 30 hours free childcare. She acknowledges ...

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Image courtesy of "LBC"

2024 budget: What we know and what to expect (LBC)

Rachel Reeves will present her first Budget as Chancellor to the House of Commons on Wednesday amid reports of the tax rises and spending cuts it could ...

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Image courtesy of "The Independent"

8 key things to watch out for in the autumn 2024 budget (The Independent)

8 predictions to watch out for in Rachel Reeves' autumn 2024 budget, from winter fuel to inheritance tax · Speculation is rife on what will come in Rachel Reeves ...

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Autumn Budget 2024: live updates and analysis (MoneyWeek)

Labour's first Budget in almost 15 years will take place on 30 October. Prime minister Keir Starmer has warned it will be “painful”.

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Image courtesy of "The Northern Echo"

Autumn Budget 2024: North East awaits news of A1 dualling plans (The Northern Echo)

Residents in the North East are anxiously awaiting news on plans to dual the A1 north of Morpeth in the looming Budget.

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Image courtesy of "Personnel Today"

Budget 2024: encouraging growth does not come cheaply (Personnel Today)

From bus fares to the term 'working people' to national insurance rates, speculation around tomorrow's Budget has reached fever pitch.

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Image courtesy of "Mirror.co.uk"

Budget 2024: What tax hikes are likely to be announced and how ... (Mirror.co.uk)

Rachel Reeves is gearing-up to delivery an historic Budget - not just as she is Britain's first female Chancellor but in the likely scale of the tax rises ...

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Image courtesy of "Housing Today"

What to look out for in the Autumn Budget 2024 (Housing Today)

Wednesday will see Rachel Reeves deliver her first Budget statement as chancellor. Daniel Gayne explains what it may have in store for housing and ...

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