| UPDATED: 10:39, Thu, Feb 25, 2021
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Chancellor Rishi Sunak will announce his Budget next week, and heated debate has already begun over who should take on the burden of paying extra after the coronavirus pandemic has hit the UK economy. Reports indicate that the furlough scheme will be extended to help those still unable to work and the Universal Credit uplift of £20 is likely to remain in place. But the Chancellor has also hinted at tax rises, with Mr Sunak likely to raise corporation tax and capital gains tax to target big businesses and the wealthiest. Meanwhile, more than t
| UPDATED: 18:16, Wed, Feb 24, 2021
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Chancellor Rishi Sunak could make big changes to inheritance tax, impacting many savers in the UK amid the economic downturn from the pandemic. The economy suffered its biggest slump in over 300 years in 2020, although the UK has narrowly avoided a double dip recession. Britain s GDP dropped to 25 percent lower in April 2020 than it had been two months earlier in February 2020. Economic activity picked up over the spring and summer, reflecting the opening up of the economy and pent-up demand from the first lockdown.