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Putting the Autumn Budget 2024 decisions on tax, spending and borrowing into context

This has been the most anticipated Budget of modern times. It had to wrestle with profound – and sometimes conflicting – challenges: fixing the strained public services; repairing failing public services; and breaking with the UK’s dire record on public investment. And all of this had to be squared with pre-election pledges not to raise the rates of any of Britain’s most important taxes.