| UPDATED: 17:13, Thu, Mar 4, 2021
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Mr Sunak presented his economic blueprint in the House of Commons yesterday as he aims to drive the UK s economic recovery. The country s public sector debt has exceeded £2.1trillion and the Government s COVID-19 bill has surpassed £400billion. Mr Sunak announced a tax hike on corporations yesterday – softening this with the additional sweetener of £25billion in investment incentives for businesses. The point people begin paying income tax will increase by £70 to £12,570 in April as a result of Mr Sunak s changes, which will stay at that
The Coronavirus job retention scheme will continue to operate until 30 September 2021. Employers will not need to contribute to employees' wages for furloughed hours until 1 July.