The chancellor Rachel Reeves has delivered her second budget with a number of new measures and changes to come into effect. Many of these will affect the whole of the UK, while some are devolved issues which the Welsh Government will potentially address to follow suit.

More analysis will come over the next few days as more detailed information emerges, but here are some of the key takeaways from today’s budget.

Personal taxes

Despite some murmurings in the weeks leading up to the budget, there has been no increase to income tax rates. However, income tax and National Insurance thresholds are staying the same for a further three years to 2031.

From April 2026, there will be a 2 per cent increase in savings tax, rising from 20 per cent to 22 per cent. Taxpayers will still have access to the starting rate for savings of £5,000 and personal savings allowances. While most people won’t be affected by this - if your earnings from interest are high, then this measure will affect you.

For those who run businesses or who receive dividends from shares held as investments, the personal........

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