Key facts
- Government to act on pay transparency to close the gender pay gap.
- New laws will limit non-compete clauses.
- Self-employed fathers and partners to receive two weeks of paternity pay.
- National Living Wage to rise to £13.21 an hour from April 2027.
- 70,000 more small businesses will pay no business rates.
Chancellor John Healey presented the UK's 2026 Budget, outlining tax and spending plans for Prime Minister Andy Burnham's government. The Budget aims to provide economic stability amidst global pressures, including the conflict in the Middle East and the invasion of Ukraine. It rejects broad-based tax rises, focusing instead on structural changes and support for families and businesses. Key measures include an increase in the National Living Wage and National Minimum Wage rates from April 2027, permanent mileage rates, and relief on business rates for small businesses.