Budget 2024

Things have settled a little now, so what do you think of the first Labour budget in 15 years?

There was a lot in it, and it will certainly shape the economic layout for years to come, not to mention how public policy will be impacted.

There has been a very mixed reaction to the high tax rises and big budget spends – but the question we all want to know is, will it deliver growth?

Businesses have reacted with caution but have welcomed the investment in infrastructure. In particular the measures on NI contribution and living wage have meant many are looking at the balance sheet with anxiety, and will worry about how they can employ more people and grow. But the announcement over a modern industrial strategy, funding for aerospace, innovation and life sciences have been welcomed.

Labour are setting their long term sights on big economic growth, the OBR aren’t too certain with their forecasts, but they don’t have the best record with getting these things right.

Here in the West Midlands Richard Parker has been delighted with the funding for his Youth Plan, guaranteeing that every young person is earning or learning, plus money for house building and transport – notably the Black Country metro extension.

Everyone wants this to work, to make sure that UK plc is a thriving economy, people are in quality jobs and the right investment is going into public services.

Everything in a budget takes months, sometimes years, of planning, policy formation and engagement to get right. The team at Walk Through Walls are already looking ahead to the next big fiscal event, and how businesses can engage in the process.