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/ After suffering the worst financial crisis in 300 years, Rishi Sunak the UK’s Chancellor has promised to give the arts sector over £400m, to prop up a failing industry starved of an audience, due to the COVID Pandemic. Mr Sunak has praised our industries as a “significant driver” of the economy Mr Sunak has praised our industries as a “significant driver” of the economy which employs over 700,000 people. “I am committed to ensuring the arts are equipped to captivate audiences in the months and years to come,” he said. The funds will include £408 million for England, including an extra £300 million to the £1.57 billion Culture Recovery Fund, £90 million to support its locked-down national museums, and £18.8 million to fund other community cultural projects. The government will give an additional £77 million to the devolved administrations of Scotland, Wales, and Northern Ireland to support their own cultural sectors. ....
Spring Budget 2021: Chancellor hikes corporation tax to 25% from 2023 Personal thresholds remain frozen Corporation tax will go up to 25% from 2023, but personal tax thresholds will be frozen, Chancellor Rishi Sunak has said in his Budget speech today. Sunak told the House of Commons the move may not be popular but it was fair as the economy recovers after the Covid-19 pandemic. He added the UK would still have the lowest corporation tax in the G7. To continue reading. Tel: +44 (0)1858 438 427 Register Now Investment Week helps enlightened investment professionals to grow revenues and manage risk by reading the market more astutely via this industry leading title. ....
Furlough factfile (Image: Express) “There s all sorts of talk about taxes that might rise, including Corporation Tax but he might be tempted to do some other things as well on wealth taxes and so on. “And I just think that that would be a mistake and it would be better to focus on growth as far as possible rather than trying to fix the public finances.” With specific reference to increasing Corporation Tax beyond its current rate of 19 pence in the pound, Mr Jessop explained: “I think it sends a bad signal. “I don t think it s necessary to raise any sort of tax, including Corporation Tax because I think the economy will rebound strongly and that will fix the public finances without the government needing to raise taxes. ....
HM Treasury Budget 2021 sets path for recovery In a Budget which ‘meets the moment’, the Chancellor has today (3 March) set out a £65 billion three-point plan to provide support for jobs and businesses as we emerge from the pandemic and forge a path to recovery. Chancellor’s three-point plan to protect jobs and strengthen public finances billions to support businesses and families through the pandemic investment-led recovery as UK emerges from lockdown future changes to strengthen public finances Chancellor of the Exchequer Rishi Sunak said his immediate priority continues to be supporting those hardest hit, with extensions to furlough, self-employed support, business grants, loans and VAT cuts – bringing total fiscal support to over £407 billion. ....