Spring Budget 2024

Chancellor Jeremy Hunt has delivered the Spring Budget for 2024. Here we summarise the key areas that impact the NHS and its workforce.

Tax    

• From 6 April 2024 employee National Insurance contributions will be cut by 2p, reducing the contribution rate from 10 per cent to 8 per cent.  

Childcare 

• From April 2024, the high income child benefit charge threshold will increase from £50,000 to £60,000.
• There will be a consultation on changing the child benefit system by April 2026, assessing the high income child benefit charge based on household income rather than individual earnings.

NHS spending

• The one per cent increase in public sector spending will remain.  
• A £3.4 billion fully funded NHS productivity plan focused on digital transformation, to help fund productivity growth by 2030, including: 
  • expanding the use of AI for quicker cancer diagnosis
  • an improved NHS app to allow patients to confirm and modify appointments
  • a new app for NHS staff to allow for easier e-rostering
  • a plan for all hospitals to use the electronic patient record. 
• £2.5 billion in additional funding to support reducing waiting times.

Fuel duty

• The temporary 5p cut in fuel duty rates has been extended for a further 12 months, meaning rates will remain unchanged for 2024/25.  

Life sciences 

• There will be £45 million of new investment in life sciences, including funding for research into cancer, dementia and epilepsy.  

Further information

The NHS Confederation has published a media response to the Budget announcement, as well as a member briefing with summary and analysis of the areas that impact health and care will be available. 

You can read the Spring Budget 2024 report in full on the gov.uk website.