On Wednesday, 30 October, the Labour Government announced its first Autumn Budget 2024 with the promise of fixing the foundations to deliver change.<\/p>\n

Chancellor Rachel Reeves announced the Autumn Budget 2024 by pledging investments in the housing market and the NHS. She went on to say that Britain inherited broken public finances and services, and therefore, she was forced to raise taxes by \u00a340 billion to help the nation.<\/p>\n

The Chancellor also mentioned that it is the first budget \u201cin our country\u2019s history to be delivered by a woman\u201d and that she is \u201cdeeply proud to be the first female chancellor\u201d.<\/p>\n

A few key points from her budget included:<\/p>\n

An increase in the windfall tax paid by North Sea oil and gas producers \u00a0<\/p>\n

Continuing the freeze on fuel duty<\/p>\n

A rise in the National Minimum Wage to \u00a312.21 for all workers 21 and over<\/p>\n

An increase in the National Insurance contributions rate paid by employers<\/p>\n

A spokesperson for the UK Chamber of Shipping reacted to today\u2019s announcement by saying:<\/p>\n

The shipping industry\u00a0is vital to UK growth and prosperity, and announcements today on\u00a0green hydrogen hubs and investment into customs areas at freeports are welcome. However, there are legitimate concerns across offshore energy sectors, which will need serious consideration.<\/em><\/p>\n

\u201cWe now need to go further and use Government investment to unlock wider shipping industry finance for key projects. This includes delivering on training of the workforce of the future, leveraging the creation\u00a0of Skills England, and delivering new maritime infrastructure.\u00a0Such projects include shore power and the deployment of alternative fuels, which will need continued access to competitive R&D and commercial feasibility\u00a0grants, alongside access to the National Wealth Fund. This investment will create new jobs and attract green shipping to the UK, benefiting not just maritime areas but communities and supply chains across the country.<\/em><\/p>\n

Visit the Autumn Budget 2024 webpage available on the Gov.UK website.<\/a><\/p>\n

Transport & Logistics<\/a>\u00a0\u2013 Driving The Industry Forward<\/p>\n

The post Chamber of Shipping Reacts to Labour\u2019s Budget 2024<\/a> appeared first on Transport & Logistics Magazine<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

On Wednesday, 30 October, the Labour Government announced its first Autumn Budget 2024 with the promise of fixing the foundations to deliver change. Chancellor Rachel Reeves announced the Autumn Budget 2024 by pledging investments in the housing market and the NHS. She went on to say that Britain inherited broken public finances and services, and therefore, she was forced to…<\/p>\n","protected":false},"author":0,"featured_media":1439,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[60],"tags":[],"class_list":["post-8551","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-camcab"],"_links":{"self":[{"href":"https:\/\/camcab.co.uk\/wp-json\/wp\/v2\/posts\/8551","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/camcab.co.uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/camcab.co.uk\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/camcab.co.uk\/wp-json\/wp\/v2\/comments?post=8551"}],"version-history":[{"count":0,"href":"https:\/\/camcab.co.uk\/wp-json\/wp\/v2\/posts\/8551\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/camcab.co.uk\/wp-json\/wp\/v2\/media\/1439"}],"wp:attachment":[{"href":"https:\/\/camcab.co.uk\/wp-json\/wp\/v2\/media?parent=8551"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/camcab.co.uk\/wp-json\/wp\/v2\/categories?post=8551"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/camcab.co.uk\/wp-json\/wp\/v2\/tags?post=8551"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}