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What did we learn from the chancellor’s press conference?
Rishi Sunak’s media briefing came after his Budget speech today.
He began by saying he wants to be “honest about the problems we face”, and said and it will take “a long time” to recover from the coronavirus pandemic.
He repeated the headline policies from the Budget:
Continued support for the economy during the pandemic: the furlough scheme, help for the self-employed, business rates relief, and other grants for business
A freeze in the income tax standard and higher rate thresholds, and, from 2023, a corporation tax increase to 25%
Investment in infrastructure and skills, across the UK
In response to questions from journalists, Mr Sunak said:
He thought the government has a responsibility to control public borrowing after the time
He promised that no one’s current take home pay will be affected by the freezing of the income tax thresholds
Despite the proposed increase, the UK’s corporation tax will be lower than in many of its competitors. Mr Sunak insisted the government was “on the side of businesses” but said the pandemic had made some tax rises necessary
The Budget is intended to allow for flexibility in the government’s roadmap for leaving lockdown in England
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Covid-19 update UK today, Rishi Sunak. With BSL signing.
Coronavirus: Government Downing Street briefings | BBC News | BBC
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