Spending Review 2024: £10,000-£96,000 Earners Share Their Budget Wishes

Michael

3 min read

Post on Jun 11, 2025

4.3

Share

Spending Review 2024: £10,000-£96,000 Earners Share Their Budget Wishes

The UK's 2024 Spending Review is looming, and with it, a nation's hopes and anxieties about the future. This year, the conversation is particularly focused on the impact on middle and higher earners, a demographic often overlooked in discussions of budgetary constraints. We spoke to individuals earning between £10,000 and £96,000 to uncover their key concerns and budget wishes for the upcoming review. Their responses paint a diverse picture of financial pressures and aspirations across the income spectrum.

The £10,000-£30,000 Bracket: Balancing Act and Cost of Living Concerns

For those earning between £10,000 and £30,000, the dominant theme is the cost of living crisis. Many expressed concerns about rising energy bills, grocery prices, and the increasing difficulty in affording essentials. Their budget wishes largely center around targeted support:

• Increased social housing: A significant number highlighted the need for more affordable housing options.
• Targeted support for childcare: The cost of childcare often prevents parents from working more hours or pursuing further education, creating a significant barrier to upward mobility.
• Improvements to public transport: Reducing reliance on cars through affordable and reliable public transport could significantly reduce household expenses.

"It's a constant juggling act," said Sarah, a single mother earning £22,000. "Every penny counts. Any relief on energy bills or childcare costs would be a huge help."

The £30,000-£60,000 Bracket: Taxation, Investment, and Future Security

Individuals in the £30,000-£60,000 bracket often find themselves in a "squeeze" – earning too much for many benefits but still struggling with the rising cost of living and a lack of opportunities for significant savings. Their priorities include:

• Fairer taxation: Many feel that the tax system disproportionately affects this income bracket, leaving them with little disposable income.
• Investment in infrastructure: Improved infrastructure, such as better roads and broadband, is seen as crucial for economic growth and future opportunities.
• Increased access to affordable healthcare: The rising cost of private healthcare is a significant worry for many in this group.

"We're not wealthy, but we're also not struggling," said Mark, a teacher earning £45,000. "But the constant pressure of taxes and the rising cost of everything makes it hard to save for the future."

The £60,000-£96,000 Bracket: Long-Term Planning and Economic Stability

Higher earners in this bracket, while generally more financially secure, are also concerned about long-term economic stability and the impact of inflation on their savings and investments. Their key requests include:

• Sustainable economic policies: Long-term investment in green technologies and sustainable industries is paramount.
• Investment in education and skills: Ensuring a skilled workforce is crucial for future economic growth.
• Tax reforms to encourage investment: Incentivizing investment and entrepreneurship is seen as key to driving economic growth.

"We're concerned about the long-term economic outlook," said Anna, a senior manager earning £80,000. "Sustainable policies and investment in education are crucial for the future prosperity of the country."

Conclusion: A Multifaceted Approach Needed

The 2024 Spending Review needs to adopt a nuanced approach, recognizing the diverse needs and concerns across different income brackets. Ignoring the anxieties of middle and higher earners would be a mistake, as their economic activity and contribution to tax revenue are vital for the country's overall prosperity. The government needs to consider a balanced approach that addresses both short-term cost-of-living pressures and long-term economic stability. Only then can it hope to build a truly inclusive and prosperous future for all. Stay tuned for further updates as the Spending Review unfolds. What are your budget wishes? Share your thoughts in the comments below.