Author: Leo Labeis, founder and CEO, REGnosys

Greater clarity on capital gains treatment, entrepreneur relief, and modernised EIS/EMI rules is exactly what founders have been calling for. This is a strong signal that the Government recognises how vital fiscal stability is for scaling high-growth sectors.

This makes the UK an even more attractive place to build and scale financial innovation and reinforces London’s position as the natural home for RegTech globally.

Author: Jamie Roberts, managing partner, YFM Equity Partners

The shift in the VCT qualifying rules to include more established business is a real game-changer.

Regional businesses often scale over a longer timeline and the previous requirement to secure a first VCT-qualifying investment within a fixed window meant too many strong companies missed out on essential early growth capital.

This change means investors can support high-growth businesses for longer, helping ambitious management teams scale across the UK.

It recognises that ambition exists everywhere, and now the investment can too. This kind of policy encourages sustained growth, creates jobs outside the major hubs, and strengthens the ecosystem for entrepreneurs and investors alike.

Author: Jonathan Symcox

Opposition leader Kemi Badenoch labels Reeves the worst Chancellor of all-time. A few Labour MPs don’t take kindly to that – memories of Liz Truss and Kwasi Kwarteng are still strong…

“The smorgasbord of misery we’ve just heard from her can be summed up in one sentence: “Labour are hiking taxes to pay for welfare.”

She adds: “This is a Budget for Benefits Street paid for by working people.”

Author: Jonathan Symcox

The Chancellor commends her statement to the house. Let’s see what the tech and business community makes of it. Stay tuned…

She is also taking action on energy bills.

She says the Tories’ ECO (energy company obligation) system costs more than £1bn a year and costs families more than they save.

She says scrapping it will cut the average household bill by around £150.

Author: Jonathan Symcox

Reeves raised the National Minimum and Living Wages last year and is doing so again.

The NMW will be increased for 18-20-year-olds from £10 to £10.85 an hour. The NLW will grow from £12.21 to £12.71.

 

Author: Jonathan Symcox

Reeves says she is increasing the basic state pension by 4.8% – £440 per year.

Increases to the new state pension will be above £500 per year, in line with Labour’s commitment to the ‘triple lock’.

 

Author: Jonathan Symcox

Reeves confirms she will be removing the controversial two-child benefit cap.

In one fell swoop, she says hundreds of thousands of children can be taken out of poverty.

She says the policy introducing by the Tories was cruel and the brunt was borne by kids, not parents.

The opposition benches try to shout her down but Reeves is having none of it. “It’s amazing what some people get angry about. They’re showing their true colours.”

Author: Jonathan Symcox

Reeves says she will generate £1bn a year through increased taxation of gambling/online gaming companies.

Author: Jonathan Symcox

Reeves is cutting the 100% relief on capital gains tax on businesses sold to employee ownership trustsm to 50%.

Author: Jonathan Symcox

From 2028, properties worth millions of pounds will face a council tax surcharge of £2,000-7,500.

Author: Jonathan Symcox

Reeves will increase the basic and higher rate of tax on property, savings and dividend income by two percentage points, and the additional rate of tax on property and savings income by two percentage points.

Author: Jonathan Symcox

She confirms that the Government will maintain all income tax and National Insurance thresholds from their current level for three years from 2028.

Order called by the Deputy Speaker again.

“I know this will impact working people. I’m asking everyone to contribute today.”

 

 

Author: Jonathan Symcox

Funding for under-25 apprenticeships will be free for SMEs, says Reeves.

Author: Jonathan Symcox

The Motability Scheme has come under fire recently, with claims that the system is being abused to give friends and family of people with disabilities access to new vehicles which are not for their intended use of helping those in need.

Reeves says tghe scheme will be reformed to remove luxury vehicles “to get back to offering cost-effective vehicles to disabled people”.

There will also be more checks on fraudulent welfare claims, she says.

Author: Jonathan Symcox

As Reeves says the previous government left schools crumbling and huge NHS waiting lists, deputy speaker Nusrat Ghani again tells off the chamber.

“You’re making far too much noise.”

Seconds later they are at it again…

Author: Jonathan Symcox

Reeves says the Tories plunged the country into £2.6 trillion of debt – 83% of GDP – which must be paid down.

That means £1 in every £10 the Government spends is on debt interest.

“The Conservatives lost control of debt, we are getting debt down.”

 

Author: Jonathan Symcox

Schemes in Leeds, Peterborough and Darlington are cited, as well as extended funding for Northern Ireland, Scotland and Wales.

Wales will host two AI Growth Zones, creating 8,000 jobs, supported by a £10m investment in the semiconductor industry.

Scotland will get £14m for low carbon technologies in Grangemouth alongside other investments.

Author: Jonathan Symcox

Reeves says Labour is devolving £13bn of flexible funding for the seven regional mayors to invest in skills, business support and infrastructure.

She cites the extension of business rates retention pilots in the West of England, Liverpool City Region and Cornwall until 2029.

Author: Jonathan Symcox

Investment for artificial intelligence has also been promised – “building that great industry here in Britain” – but no detail about this as yet.