Sunak to increase UK business tax to pay Covid economic bill

Sunak to increase UK business tax to pay Covid economic bill

(Bloomberg) – UK Finance Minister Rishi Sunak has announced he will continue to spend heavily to help the economy weather the pandemic, but has laid out a plan for businesses and individuals to start paying the huge invoice in the years to come.

As the country is in the midst of its third national lockdown, the Chancellor of the Treasury has made it clear in his annual budget that safeguarding jobs during the crisis is his top priority.

It added 65 billion pounds ($ 90.7 billion) in aid to help businesses and citizens get through the rest of the year and into next year, bringing the government’s total budget support to 407 billion books.

In a dramatic statement to Parliament, Sunak then outlined a plan to start restoring the UK’s battered public finances over the next few years. At the center of his plan is a politically …

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