Free Trial

Total Fiscal Support GBP407bn, Now Chancellor Onto Tax Rises

UK

Chancellor states that total fiscal support from the gov't to businesses and individuals amounts to GBP407bn in this year and next. Now he moves onto tax rises to pay for all this:

  • 'Irresponsible to allow future borrowing to rise unchecked.'
  • 'When the next crisis comes we need to be able to act'.
  • 'No rise to income tax, NI or VAT'
  • Personal tax thresholds frozen. Basic rate threshold up to GBP12,570 as planned and then frozen until April 2026. Higher rate up to GBP50,270 then frozen until April 2026.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.