Economic recovery may delay tax rises

Posted on 26 Jan 2022
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Economic recovery could delay tax rises Christopher Hope reports that Treasury ministers hope that the economy will start to recover by mid-2021, delaying any consideration of significant tax rises until the following year. He says senior ministers want to ensure the worst of the coronavirus pandemic has passed before considering increasing taxes, adding that this realistically pushes any large-scale increases to March 2022 at the earliest. A senior Treasury source told the paper that people would have to wait "a bit longer" than the spring Budget to see whether tax increases are required. Meanwhile, a poll by ORB International for the Sunday Telegraph shows that 38% of people agreed that tax increases should be used to pay for the pandemic, while 31% disagreed and the remaining respondents were unsure.

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