Michael McMahon , Professor of Economics at the University of Oxford, outlines the key points from the UK Government’s Autumn Budget 2024, announced today. Professor Michael McMahon. There were many aspects of today’s budget that were well-signposted in advance. The fiscal rules were adjusted to make more room for investment – they will now separate day-to-day spending which will aim to balance that spending, and public investment. Both will be applied in year three now instead of year five.