Rishi Sunak unveiled a £ 65bn increase for businesses and workers affected by Covid to the budget, but also warned that he would soon begin the painful process of repairing public finances.
The Chancellor unveiled extensions to the holiday program, lower corporate tariffs, a £ 20 increase in weekly universal credit payments and stamp duty holidays. A tax reduction plan to boost business investment, a new loan guarantee program and the location of the government’s northern poles were also announced.
However, Mr. Sunak began to consolidate public finances, announcing a tax hike for large companies in 2023 and a “stealth tax” on workers.
Here’s everything the Chancellor announced in the spring 2021 budget:
Overview of the main 2021 budget announcements:
Follow our live corporate blog for the latest feedback and analysis on the Spring 2021 budget.
- the leave and self-employment income support the programs have been extended until the end of September. Laid-off employees will receive 80% of their salary, but companies will be asked to contribute to their salary from the end of July as the recovery gathers pace. New freelancers in the 2019-2020 financial year will now also be able to receive payments.
- The Treasury has confirmed additional funding for learning with a cash incentive to hire apprentices increased from £ 1,000 to £ 3,000 per hire.
- Chancellor extended £ 20 per week boost Universal credit payments for an additional six months.
More about this article: Read More
This notice was published: 2021-03-03 11:35:52