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Podcast: Beyond Currency
Episode: 4 March 2021 - Tax rises for another day
Description: "The Office for Budget Responsibility announced following yesterday’s presentation by Chancellor Rishi Sunak of his spending and taxation plans that the tax burden in the UK would rise to its highest levels since the 1960’s when all of the deferred items kick in.
Sunak’s second budget was, in his own words, not popular but honest. Large firms will be taxed at a rate of 25%, rising from 19% starting in 2023, while by the middle of the decade 1.3 million more people will be paying income tax.
Most measures to reduce the level of Government borrowing were deferred until the recovery is well o...