Welcome to our Budget hub. Here you will find up to date information relating to the most recent Scottish and UK Budgets announcements.

 

Mini-Budget 2022

The new Chancellor, Kwasi Kwarteng, has announced a series of tax cuts in his fiscal statement, or ‘mini-budget’. Although not a full Budget, the statement contained significant policy announcements and a shift in the economic policy of the UK Government. After the challenges of Brexit, he is clearly sending a message that Britain is open for business.

The Chancellor began today's announcement by addressing the cost of the energy crisis and summarised the steps the Government is taking. Then moved on to say that UK growth is not as high as it should be, with higher taxes having stunted growth. Accordingly, the Government will now focus on breaking the tax cycle and turn the economy around from stagnation to growth.

Many of the announcements are devolved in Scotland, so we will need to await the Scottish Government’s response in their Budget in the next few weeks.

Our specialists have covered the key tax announcements, here.



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