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SUNAK THE SQUEEZE – BUDGET 2021: What do today’s announcements really mean?

The Chancellor has taken to his feet and set out his plans in Budget 2021 

...and whether it’s an extension to furlough, additional arts venue funding or simply raising the limit on contactless payments to £100 - it’s got you talking...

So what do we know?

A total OF £65bn of additional measures were set out by Sunak, They included,

  • an extension to furlough
  • Additional self employed grants
  • Continued uplift in universal credit
  • Beer duty cancelled
  • VAT rate of 5% continued, which is likely to help those in hospitality most

There was also a pledge to increase corporation tax, but not until 2023

For the opposition though, there were a few things missing...

In the round Steve welcomes the Chancellors announcements but undoubtedly, it does accelerate questions about how the over £400bn of support can be repaid...

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