Finance: The budget in practice

On October 30, 2024, Chancellor Rachel Reeves presented the government’s autumn budget, unveiling an ambitious plan focused on stimulating economic growth, supporting working families, and overhauling the UK’s tax structure.  

This budget includes significant wage increases, comprehensive tax reforms and targeted benefits for small businesses.  

Below, we have outlined some of the most impactful changes that may affect locums, employees and owners within the optometry sector. 

The government has extended its freeze on several key tax thresholds, a typical ‘stealth tax’ strategy that increases the real tax burden as inflation and earnings rise, but tax-free allowances remain unchanged.