AN ACCOUNTANT from Warrington has shared that the empowering and ‘historic’ Autumn Budget is a ‘turning point’ for women.

The Autumn Budget was revealed on Wednesday, shedding light on the changes British people will face in the next economic year.

This year, Rachel Reeves delivered her first budget since being appointed the first female Chancellor the UK has ever had.

Joanne Thorne, technical compliance manager at Caroola Accountancy in Centre Park in Warrington, believes that this was a ‘turning point’ for women across the country.

“No matter how you feel about the Autumn Budget, it was truly a historic moment for women,” she said.

“Rachel Reeves delivered the budget confidently and coherently and you could sense the pride.

“It feels like a turning point, showing how young women that their voices matter and that they can shape the future.”

But, of course, it wasn’t just steps towards the inclusion of women in Government that made the Autumn Budget important.

“Turning to what was announced, the increases to the National Minimum Wage (NMW) and National Living Wage (NLW) are certainly welcome news for younger workers and those earning lower wages,” said Joanne.

“However, businesses - especially smaller ones with employees – will be feeling the strain.

“While the rise in employers’ national insurance was expected, the drop in the threshold from £9,100 to £5,000, coupled with the rate hike from 13.8% to 15%, is a kicker.”

It’s not all doom and gloom though, as Joanne, who has more than 20 years’ experience, shared what she believes small business can do to overcome challenges.

“To ease the burden, the government is more than doubling the Employment Allowance to £10,500, helping over 800,000 businesses avoid National Insurance contributions next year,” she said.

“Still, it's hard for companies to feel truly incentivised to grow and innovate when faced with such big cost increases, on top of navigating an already challenging landscape.

“Ultimately, the reality is now that businesses must accept the changes and adapt quickly to find ways to manage these rising costs and their finances effectively.

“Hopefully, these challenges now will pay off in the long-term and we'll have a more stable economic future if Labour's investment strategy achieves its growth goals by 2029.”