Chancellor Rachel Reeves has presented her first budget, prioritizing business revenue generation and resisting calls for strict wealth taxes within her party.

The budget maintains current tax breaks for personal pension contributions, allowing individuals to save up to £60,000 annually, and couples to contribute £20,000 each into tax-free Individual Savings Accounts.

Notably, there were no changes to the tax breaks for startup investments, and inheritance tax regulations remain unchanged, including the ability to gift assets tax-free up to seven years before death. Capital gains taxes saw only modest increases, with no adjustments for property, providing temporary relief for the middle classes amidst ongoing economic pressures.