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Information provided by NCVO (The National Council for Voluntary Organisations).
The 2024 budget sets out the new government’s tax, welfare, and spending priorities up to March 2026, with a framework for spending beyond April 2026.
The Institute for Fiscal Studies calls this the most important budget since the 2010 austerity measures. It reveals the government’s priorities and expected trade-offs.
This budget also previews the spring spending review, which will allocate funding for central government departments through to March 2029.
Key announcements for charities and communities
Several budget measures will likely help the voluntary sector and the communities it supports. They include:
- Increased local government funding: A 3.2% rise in core local government spending, with at least £600 million in new funding for social care.
- Support for individuals and carers: Reduce Universal Credit debt deductions (from 25% to 15%). Raise the weekly earnings limit on Carer’s Allowance. Conduct an independent review of Carer’s Allowance overpayments.
- SEND support: £1 billion (a 6% real-terms rise) to support children with special educational needs and disabilities (SEND).
- Funding for hardship support: £1 billion next year to extend the Household Support Fund and hardship payments.
- Education funding: An additional £30 million for free breakfast clubs.
- Funding for Holocaust education: An additional £2 million to support Holocaust education charities.