A core pillar of the UK welfare state
The government has signalled a potential lift to the personal tax allowance as a part of post-election policy, while weighing how to fund the move. Analysts propose linking the uplift to inflation or pension policy, with readers watching for detailed plans in the next Budget.
Andy Burnham has reiterated that there is room for movement on tax within Labour’s 2024 manifesto while outlining possible changes to business rates to support high streets and pubs. He has not promised revenue-raising measures on income tax, VAT or National Insurance but is considering reforms to business rates and targeted reliefs as part of his broader policy package.
Wetherspoons has seen a recovery in share value after a March profit warning, with like-for-like sales rising in Q2 but growth slowing in Q3. A fourth-quarter update on July 22 is anticipated, amid pressure from wage costs, National Insurance, and a packaging levy, as the sector awaits clarity on costs and VAT relief.