💼 Autumn Budget 2024: What It Means for the Events and Creative Industries
The UK Government’s Autumn Budget 2024 delivered some significant updates that could reshape the landscape for freelancers, small businesses and the wider creative sector. From support with staffing costs to investment in innovation, this budget carries both opportunities and implications for those of us working in events, video, and live production.
Here’s a breakdown of the most relevant highlights — and what they mean in practice for our industry.
📊 Employment Allowance Increased to £10,500
One of the biggest wins for small businesses and sole traders: the Employment Allowance has been raised to £10,500, up from the previous £5,000 cap. This change is designed to ease the burden of rising employer National Insurance contributions, particularly in industries like ours that rely on project-based teams and freelance support.
This is especially helpful for production companies, AV teams, and small agencies with growing teams — giving them breathing room to invest in talent while managing overheads more sustainably.
🔗 Source: Gov.uk – Autumn Statement 2024 Highlights
💡 Moingo Insight:
This is a real incentive for lean teams to expand. If you’ve been on the fence about hiring crew or tech support in-house, now might be the right time to scale.
💡 £100 Billion in Public Investment to Support Innovation
The Budget sets out a bold commitment to £100 billion in public investment over the next five years, much of it focused on research and development in the creative and digital sectors. This includes funding for emerging technology, immersive experiences, and sustainable production innovation.
It’s clear the government is aiming to position the UK as a hub for next-gen media, making this particularly relevant for video production houses, AR/VR developers, and technical production suppliers.
🔗 Source: Creative UK Analysis of Autumn Budget
💡 Moingo Insight:
Think beyond traditional event formats — funding like this supports innovation grants and partnerships, especially for those pushing boundaries in XR, virtual events, or green production.
💷 National Living Wage Increase
The National Living Wage is set to rise, delivering an extra £1,400 per year for full-time workers. While positive for workers, this naturally adds pressure on payroll costs for companies relying on on-site crew, hospitality staff, and admin support during peak season.
This change is part of a broader strategy to address cost of living challenges, but it will require tighter planning for live event budgets in 2025 and beyond.
🔗 Source: BBC Budget Summary – Autumn 2024
💡 Moingo Insight:
Rising costs will push agencies and event producers to factor staffing rate changes into early planning — especially for large-scale productions or festival staffing models.
⛽ Fuel Duty Freeze Maintained
The government has chosen to freeze fuel duty for another year — a welcome relief for event professionals and suppliers who spend a lot of time on the road. Whether you’re hauling gear across the country or managing logistics for a multi-site event, this helps to stabilise travel costs for mobile crews.
🔗 Source: Autumn Statement Highlights via Gov.uk
💡 Moingo Insight:
Transport-heavy operations — touring productions, mobile installations, outdoor events — all benefit from this. It won’t offset all rising costs, but it’s one less variable to worry about for now.
🚦Final Thoughts: A Mixed Bag, But Some Clear Wins
While not all challenges have been solved, the Autumn Budget 2024 does offer targeted support for the creative, events, and production sectors. From direct financial relief for small businesses to long-term R&D investment, there’s real potential for growth — if the industry engages with the tools and funding on offer.
📺 Watch This Episode of Moingo News
Catch our 60-second rundown on these updates in the full episode of Moingo News, available on our YouTube Shorts channel or LinkedIn.
About Moingo:
We specialise in creative and technical event production — from hybrid broadcasts to corporate conferences and immersive brand experiences. Our mission is to help clients deliver smarter, more efficient live communications, backed by cutting-edge tech and production values.
📩 Need help adapting your event strategy to fit changing budgets? Let’s talk.
#MoingoNews #AutumnBudget2024 #EventsIndustry #CreativeSector #EventProduction #Freelancers #SmallBusinessSupport #AVIndustry #VirtualEvents #InnovationFunding #CostOfLiving #LiveEvents
