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UK's historic business tax hike will face push-back, think tanks say


Budget statement at HOC in London
LONDON (Reuters) – British finance minister Rishi Sunak will have to fight to implement the sharp rise in corporation tax that is a key plank of his plans to tackle the coronavirus hit to the public finances, leading think tanks said on Thursday.
Britain’s borrowing is due to reach a post-World War Two high of 17% of economic output in the financial year which ends this month, equivalent to 355 billion pounds ($495 billion).
The deficit should drop back down to 3% of gross domestic product by the mid-2020s, according to forecasts underpinning the budget plan that Sunak announced on Wednesday. ....

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