FURIOUS business chiefs and MPs have blasted Rishi Sunak's bombshell tax hikes plan to raise £20billion after the coronavirus crisis.
But the move, which could be introduced in the Budget, was slammed by backbench MPs and business leaders this morning, describing the planned tax hikes as "no way to help the UK economy restart."Marcus Fysh, MP for Yeovil, said on Twitter: "Tax rises are the wrong response to the current situation and Number 10 @BorisJohnson is right to resist them if the Sunday papers have the story right.
A revamp of the inheritance tax system and the introduction of an online sales tax was also being considered. The aid budget has already been cut by £2.9 billion from £15.8 billion this year, due to the contraction in the economy caused by the Covid-19 outbreak.However, the Government insists it still meets its obligation to provide 0.7% of gross national income to international development.
Senior economists and business leaders have also warned raising taxes in the current recession would be "whistling in the wind".
Has boris quit
Where did you think all this free cash was coming from?
Where did you think the money was coming from.. ? Where does it always come from...
Ive voted tory all my life by fuck me you are making a right mess. If i was a business id just open how you like, stuff the 2mtrs because if you dont you will lose everything and the gov will leave you. House will go and kids will suffer. Its armagedon yet he thinks hes done well
On reflection if he increases taxes on business he's an idiot
Those with nothing never had it so good! I can see an early General election on the horizon, and a UKIP/Brexit Party coalition government in 2021!! Conservatives will never recover from stealing the responsible prudent savers wealth, and squandering it all on deadbeat wasters!!!
Yet again the Tories have fucked up the country and then expect us to fucking pay for it
Higher tax on online sales is long overdue.