Tasks, Reforms
UK's 2024 Budget: Growth,
Chancellor Jeremy Chase unveils UK's 2024 Budget with focus on AI, defense, social commitments, and financial changes.
UK’s 2024 Budget
6.7% benefit increase for 5.5M households, £470 average rise. Housing allowance up for 1.6M households.
Pensions and Triple Lock Commitment
Chancellor boosts state pension by 8.5% to £221.20/week from April 2024, addressing living costs and supporting the pensions triple lock.
Innovation and Manufacturing
UK invests £500 million in 2 years for AI development, aiming for global prominence. £4.5 billion boost for manufacturing till 2030, focusing on key sectors.
Defence Spending in a Global Context
UK reaffirms commitment to spend 2% of GDP on defense amid global threats, emphasizing dedication to international security and stability.
Conclusion
The UK's 2024 budget prioritizes strategic investments, social welfare, and AI leadership for economic growth and global security.