UK Budget: Highlights of Chancellor Reeves' Key Announcements

The video discusses the UK's economic challenges and plans for national renewal. It highlights a £22 billion deficit from previous government plans and forecasts GDP growth. The budget aims to boost long-term growth, increase the National Living Wage, and adjust taxes. Key reforms include abolishing the non Dom tax regime and introducing a new residence-based scheme. The budget raises taxes by £40 billion to address public finance issues and increases defense spending to support NATO commitments and Ukraine. Investments in housing and health sectors are also announced.

What is the projected real GDP growth for the year 2024?

What percentage increase in the National Living Wage is being proposed?

What is the new rate of employers National Insurance contributions starting from April 2025?

What changes are being made to capital gains tax rates?

What is the total increase to the Ministry of Defence's budget announced?

How much funding is being provided for new green hydrogen projects?

What is the largest real terms growth in day-to-day NHS spending since 2010?