Spend now, pay later: Sunak flags major tax rises as Covid bill tops

Middle-earners and businesses told they will pay for government’s fight against pandemic

Rishi Sunak has told Britain’s businesses and millions of middle-earners they will pay the price of the government’s year long fight against Covid-19 with a spend now, pay later budget that combines life-support for the economy with the biggest tax increases since 1993.

Delivering his second budget, the chancellor said he would “go long,” extending many economic support measures, including the furlough scheme, until the end of September at a cost to the Treasury of £65bn.

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