BUDGET RESPONSE / MONEY NEWS
Paul Lewis
From pensions and bus fares to inheritance rules and Capital Gains Tax, our expert looks at what the Budget means for you – and for your money
illustrations
ELIOT WYATT
Rachel
Reeves’ debut budget – the first ever by a female Chancellor – proved wrong most of the speculations that had filled the 93 days between her announcing the date and it actually arriving. By and large she did keep her promise not to raise taxes directly on working people. But there were changes that may affect Saga readers.
INHERITANCE TAX
The Chancellor made three big changes to this most hated tax. The result is that by 2029/30 an extra 30,000 estates will pay it, raising an extra £5.2 billion for the Chancellor. But the proportion of estates paying it will still be less than one in ten. And no changes in lifetime gifts or passing everything tax-free to a spouse or civil partner were announced.