Thread: Coronavirus (OLD)
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Old 22-06-2020, 00:05   #4150
1andrew1
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Re: Coronavirus
Temporary tax reductions for the leisure sector sound sensible. I don't know how much capacity there is for public spending cuts though. Now is a time to be inventive and not same old, same old.
Quote:
Rishi Sunak is drawing up plans for deferred tax rises and cuts to public spending in his Autumn Budget after he delivers a further fiscal stimulus for the UK economy in the weeks ahead.
The Treasury is first considering a temporary cut to value added tax and specific reductions in the rate for some sectors, according to those close to the chancellor, following significant pressure from industry and Tory MPs. A lower VAT rate for the tourism sector — including pubs, restaurants and hotels — is one option being discussed.
https://www.ft.com/content/b6cc50e8-...e-a825ec865b69
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