Chancellor applies biggest tax increase to businesses but sweetens the pill with £25bn in investment
Rishi Sunak has announced the first corporation tax rise in 47 years, but sought to soften the blow with £25bn in investment incentives for British businesses.
The headline rate of corporation tax, the tax businesses pay on their profits, will rise to 25% for company profits over £250,000 from April 2023, the chancellor told parliament in Wednesday’s budget.
Rishi Sunak dismissed reports he had told a group of Conservative MPs that raising taxes in the 2021 budget would allow him to cut them ahead of the 2024 election. Asked by the BBC's Andrew Marr whether he had made the comments, the UK chancellor said:... Read Full Story
Middle-earners and businesses told they will pay for government’s fight against pandemicBudget 2021: key points at a glanceRishi Sunak has told Britain’s businesses and millions of middle-earners they will pay the price of the government’s year long fi... Read Full Story
Labour leader has faced backlash after saying he would oppose any new tax on business in budgetKeir Starmer is under pressure to back future rises in corporation tax after a backlash when the Labour leader said he would oppose any new tax on business i... Read Full Story
© Omokoshaban
Be the first to comment