- 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.
He's going to raise more than business tax to pay for this pandemic .. and it's going to go on for a long time
Raising taxes now is a very smart solution. You need to go to university and study economics to come up with such an innovative solution. With companies obliged not to operate, taxes should be totally levied not increased. How much lower can this Gov go?
Have they been sent out of the park yet? With the multiplication table they do not deal with? Is that someone is reading something after these someone reacts to something to what extent does this belong to the normal view of life?
Stupid. We should abolish Corp Tax.