The Labour Government in the United Kingdom presented their first Budget since taking office, outlining various changes across taxation, energy, infrastructure, employment, and environmental policies. In terms of taxation, the capital gains tax rates on carried interest are set to increase to 32% by 2025, with further reforms planned for a fairer system by 2026. The Budget also focuses on encouraging private investment in clean energy, including the establishment of the National Wealth Fund and support for green hydrogen projects and carbon capture and storage initiatives. Additionally, there are commitments to boost wages, increase the national minimum wage, adjust National Insurance contributions, and introduce significant employment reforms. The Environmental, Social, and Governance (ESG) focus of the Budget includes initiatives to support the energy transition by increasing levies on oil and gas companies, private investments in carbon capture infrastructure, household energy efficiency funding, and the introduction of a Carbon Border Adjustment Mechanism. Overall, the Budget reflects a positive outlook on driving economic growth while emphasizing sustainability and fairness in taxation and employment policies.