The Budget as a news hook for PR

Posted on October 22, 2024 by Categories: Uncategorized

The Budget is going to take place on 30 October, with our new Chancellor Rachel Reeves in charge. What changes are you worried about?

PR news hooks:

  • Firstly, look out for journalists both local and national who are looking for comments on the Budget – if you have strong views, or even some solutions or tips to help people, then get in touch with them.
  • Write about the areas in the Budget that are vital to your business or particularly make an impact on the sector you work in.
  • Share your expertise by giving tips to help people cope with the changes that affect them. Turn any negativity they’re feeling into positivity by telling them how your business can help.
  • In blogs you can talk about how the Budget affects the way we live – in the areas that affect our personal lives as well as our businesses. Share how any changes might or are already impacting your day to day running of your business.
  • Write an article about what you’d like to see in a blue-sky-budget that would help people?

4 speculative areas that the Budget may cover:

The Chancellor is talking about her task of finding a saving of £20bn – and there are many ways she can go about this:

1) There has been a lot of talk about rising taxes, and some of the areas that may be hit are Inheritance Tax and Capital Gains Tax. If you are a financial adviser, or work in a field where this could be something that affect your clients, then prepare your thoughts and be ready to talk to your clients.

This could also impact small businesses when it comes to business asset disposal relief, as this is one of the biggest triggers of CGT.

2) Fuel duty has not risen since 2012, so that could be something that is raised, and would have an impact on the cost for a company fleet and on travel if you rely on a vehicle for your job.

3) Pension Tax Relief: The government has ruled out increasing income Tax and National Insurance, but the chancellor could look at changes to pension contributions. At present, most people don’t pay income tax on any earnings they put into a pension, and if employers contribute to a pension on your behalf, they don’t pay employers’ National Insurance either. This is thought of as an area ‘ripe’ for reform and could provide potential revenue.

4) Dividend Tax could be on the rise too. By raising Dividend Dax, the government could increase their funding.

Will any of these things affect you or your business?

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