Richard Baker / In Pictures via Getty Images Rishi Sunak on Wednesday announced a further £65 billion worth of fiscal measures for the year, bringing the government's total support aimed at recovery from COVID-19 to £407 billion.To restore public finances, the UK government hiked the rate of corporation tax from 19% to 25%.Sunak's tax move could encourage higher earners to drive businesses away from the UK, a CEO said.Sign up here for our daily newsletter, 10 Things Before the Opening Bell.The cost of total fiscal support to aid the UK's recovery from the coronavirus pandemic reached £407 billion ($568 billion) after Chancellor Rishi Sunak pledged a £65 billion ($90 billion) support plan on Wednesday.
The Uk Government's Covid-19 Pandemic Support Reaches $568 Billion After Rishi Sunak Pledges An Additional $90 Billion In Fiscal
snagarajan@businessinsider.com (Shalini Nagarajan), Business Insider
Wed, 03/03/2021 - 8:11am
Topics: richard baker in pictures getty images things before opening bell chancellor rishi sunak vat this budget british elle nadal emea iterable g7 january melissa christopher zedra nigel green group whilst sunak the uk prime minister boris johnson june 21 read business insider rishi sunak uk ceo the the uk europe covid-19 government's pandemic support billion fiscal tax finances wednesday corporation jobs rate move public increase lockdown plan total aimed recovery economic announced director higher encourage restore people retail furlough drive grants effect businesses thresholds rise earners companies protecting
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