The Autumn Budget 2024, presented by Chancellor Rachel Reeves, aims to stabilize the economy, strengthen public services, and drive growth through targeted healthcare, education funding, and tax reforms for fiscal responsibility and equity.

The UK is anticipated to experience substantial revenue expansion, rising from a projected £1,102 billion in 2023-24 to £1,149 billion in 2024-25, and further advancing to £1,229 billion in 2025-26. This marks an approximate uplift of 7% over the period. The UK’s nominal GDP is expected to grow from £2,815 billion in 2024-25 to £2,950 billion in 2025-26 (4.8%), driven by Autumn Budget 2024 measures for business investment, green tech, and infrastructure support. During the 2024-25 and 2025-26 fiscal years, UK government spending is projected to grow from £1,276 billion to £1,335 billion, reflecting an increase of 4.62%. The UK’s public sector net debt is expected to reach £3,088 billion in 2024-25, rising slightly to £3,133 billion in 2025-26, a 1.46% increase driven by ongoing investments in infrastructure, healthcare, and defense as outlined in the Autumn Budget 2024.