Nobody can doubt the importance of the Spring Budget taking place on 6 March 2024. It is widely expected to be the last fiscal event before an autumn general election. As such, it is the final opportunity for Jeremy Hunt, Chancellor of the Exchequer, to set tax policies that will steer the Conservatives towards the general election. The Autumn Statement last year consisted of two high profile tax give-aways: making full-expensing permanent and reducing national insurance for workers, financed by a combination of unexpected higher fiscal headroom and largely unidentified public spending cuts.

The Conservatives have made it clear they still want to be the party of low tax but the IMF has warned against further tax cuts and the IFS has said tax cuts may need to be reversed later on. Meanwhile, Labour have started setting out their key business tax policies in their ‘Business Partnership for Growth’ plan unveiled at the start of February. On the day we may well see a headline-grabbing tax cut, but the more interesting tax announcements may be in the smaller print.

Follow this page for live reactions and commentary from KPMG tax experts, including what the Spring Budget announcements mean for businesses, employers and individuals.

Spring Budget 2024 predictions

Tim Sarson and Sharon Baynham in the KPMG UK Tax Policy team have shared their insights on what tax measures could be revealed by the Chancellor on 6 March in a new blog post.

On Budget day

On 6 March 2024 we will be updating this page with our first reactions to the Chancellor’s announcements. Please come back in the afternoon to see what the announcements will mean for you and your business.

We will also be sharing our first impressions in a LinkedIn Live event at 4pm on 6 March 2024 when Tim Sarson, Partner and Head of Tax Policy, will host a discussion with Yael Selfin, Chief Economist, and Jo Bateson, Partner, Family Office and Private Client, on key announcements. Please register to attend via LinkedIn.

After Budget day

Our Spring Budget virtual event will take place at 12pm on 8 March. Please register now to join our panel of experts for a deep dive into the measures and our insights on what the Budget means for the economy as a whole and the impact on businesses, employers and individuals from a tax perspective.

We will then publish our more detailed commentary on the key tax measures in Tax Matters Digest in the edition to be disseminated to subscribers first thing on Monday 11 March.