NCVO – Budget 2024: Implications for charities

NCVO has pulled together an explainer upon the main implications from the Budget this week. They

highlighted the following as likely to help the voluntary sector and the communities it supports:

Increased local government funding: A 3.2% rise in core local government spending, with at least £600 million in new funding for social care.
Support for individuals and carers: Reduce Universal Credit debt deductions (from 25% to 15%). Raise the weekly earnings limit on Carer’s Allowance. Conduct an independent review of Carer’s Allowance overpayments.
SEND support: £1 billion (a 6% real-terms rise) to support children with special educational needs and disabilities (SEND).
Funding for hardship support: £1 billion next year to extend the Household Support Fund and hardship payments.
Education funding: An additional £30 million for free breakfast clubs.
Funding for Holocaust education: An additional £2 million to support Holocaust education charities.

However, they also highlighted the increased financial pressures that charities face including the increase in the National Living Wage (6.7%) and employer National Insurance contributions (15%).

To read more on this there is a full review on the NCVO website….