Anneliese Dodds: Government has seen the light on corporation tax but super deduction makes move more expensive yorkshirepost.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yorkshirepost.co.uk Daily Mail and Mail on Sunday newspapers.
Colossal economic damage will be paid back over many decades , Sunak said
Chancellor told Commons the Government has borrowed £355billion this year
Borrowing is set to remain high over the next five years, with taxes to rise
National debt is forecast to hit an eye-watering £2.8trillion in 2023-24
Sunak said rate of borrowing is comparable only to levels during world wars
So how will Rishi s budget affect YOU? One in SIX people will be paying higher rate tax by 2026 - twice as many as under Thatcher - while anger grows that low and middle earners will be hit harder than the rich
Chancellor Rishi Sunak announced at the Budget that income tax thresholds will be frozen in the years ahead
It will drag hundreds of thousands of workers into paying more basic rate as well as higher rate income tax
Institute for Fiscal Studies said that by 2026 one in six people will be on higher rate - was just one in 15 in 1990
Chancellor Rishi Sunak has been defending his crucial post-coronavirus Budget package unveiled yesterday
IFS says that Mr Sunak s spending plans are implausible he will probably need to raise taxes to balance books
The massive furlough scheme will be extended again to the end of September along with other bailouts
Income tax thresholds are being frozen until 2026 and corporation tax will rise to 25 per cent from 2023
The government s total spending on response set to reach an unimaginable £407billion by end of next year
Mr Sunak said the income tax move was progressive and the right thing to do and rates are still generous