Martin Lewis: What the Autumn Budget 2024 means for you

Martin Lewis takes you through the Chancellor's 2024 Autumn Budget – the Labour Government's first budget since the General Election – in particular on the key personal and consumer finance points that'll impact you. This includes the increase of National Insurance costs to employers, and what that means for employees; changes to Stamp Duty for second-home buyers; and that Inheritance Tax thresholds have been frozen but will apply to pensions from 2027. Martin explains the confirmed 4.1% rises to both the State Pension and Pension Credit; and the 1.7% rise to benefits. Martin also talks about the rise in the Minimum Wage to £12.21 per hour for those aged 21 and over (£10 per hour to those aged 18 to 20). Are you being paid the full Minimum Wage? MoneySavingExpert's guide outlines where you might be missing out on extra pay you should be getting: http://mse.me/600498j There is also a slight rise in the amount of money people will receive in Carer's Allowance, and the increase in the weekly earnings threshold that potential claimants need to be earning less than in order to receive this allowance. The MoneySavingExpert founder also explains the concept of 'fiscal drag' and outlines what was announced about Income Tax rates in the Autumn Budget, and speaks about how the Autumn Budget impacts Child Benefit and Capital Gains Tax. MoneySavingExpert.com has full details: http://mse.me/YTAutumnBudget2024 00:00 Intro 00:42 National Insurance changes 02:09 The Minimum Wage is rising 03:00 Stamp Duty – what was announced and what wasn't 03:58 How the Budget affects Inheritance Tax 04:46 Fiscal drag 05:45 Carer's Allowance changes 06:28 State Pension and Pension Credit 07:04 Benefits, including Child Benefit 08:28 Capital Gains Tax 08:45 Conclusion