Sunak Plans Highest U.K. Taxes Since 1960s to Pay Pandemic Bill
- Corporation tax to rise; millions will pay more income tax
- VAT cut, furlough payments, stamp duty holiday all extended
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British finance minister Rishi Sunak will keep spending big to help the economy through the pandemic crisis and intends to raise the U.K. tax burden to its highest level for more than 50 years to begin to pay the bill.
With the country still in the grip of its third national lockdown, the chancellor of the exchequer made clear in his annual budget that saving jobs in the months ahead is his top priority.