UK: Budget 2024: Key points announced in Chancellor Rachel Reeves' autumn statement

Rachel Reeves delivered Labour’s first Budget in 14 years on Wednesday.

The Chancellor announced billions of pounds in extra taxes and borrowing to fund a huge investment programme in transport and other infrastructure projects and to improve some public services such as the NHS.

Here are the main key points:

* Ms Reeves announced £40 billion of tax rises.

* On the NHS, the Chancellor announced at a £22.6 billion increase in the day to-day health budget, and a £3.1 billion increase in the capital budget over this year and next year.

* She will also borrow more than £32 billion extra over the next five years.

Business

* National Insurance on employers will rise by 1.2 per cent to 15% as part of a £25 billion tax raid on firms through this levy. The Secondary Threshold, the level at which employers start paying national insurance on each employee’s salary, will be reduced from £9,100 per year to £5,000.