- British finance minister Rishi Sunak is set to increase a tax on business to pay for an extension to COVID-19 support schemes in the budget next month, The Sunday Times reportedFILE PHOTO: Britain's Chancellor of the Exchequer Rishi Sunak leaves Downing Street, in London, Britain, November 25, 2020. REUTERS/Simon Dawson
According to the report, at least 1 pence is set to be added to the bill for business from this autumn, at a cost to business of 3 billion pounds, with further rises in subsequent years.These measures will be helpful in paying for an extension to the furlough scheme, VAT cuts and business support loans until at least August.
“The corporation tax hike will be higher than expected and the extension of the support schemes will be longer than most people expect,” the newspaper quoted a source as saying.
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Well that might be right or wrong, but sooner or later, the enormous monies borrowed, will have to be paid back, and all these parties with their own interests, should acknowledge that, NOT continually tell government to spend, spend, spend! It’s disingenuous
They already destroyed many businesses and now they want to destroy those who managed to survive. Politicians are criminals. economics freedom
Can't wait to do that. Will the businesses get a break after the Covid-19?
Ouch
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