Rishi Sunak has vowed to build a “fairer and more just” country in the memory of those who lost their lives to coronavirus, after setting out plans to begin repairing the nation’s finances after the pandemic.
The Chancellor used Wednesday’s Budget to extend the furlough scheme and Universal Credit increase as part of a £65 billion lifeline for an economy still battered by the Covid crisis.
But taxes on business profits are set to rise from 2023, while income tax thresholds will be frozen, meaning more than a million extra people will be dragged into paying it as wages increase.
Rishi Sunak has vowed to build a “fairer and more just” country in the memory of those who lost their lives to coronavirus, after setting out plans to begin repairing the nation’s finances after the pandemic.
The Chancellor used Wednesday’s Budget to extend the furlough scheme and Universal Credit increase as part of a £65 billion lifeline for an economy still battered by the Covid crisis.
But taxes on business profits are set to rise from 2023, while income tax thresholds will be frozen, meaning more than a million extra people will be dragged into paying it as wages increase.