Chancellor unveils biggest Budget tax rises in decades to fund Covid crisis - BBC News

3 Mar 2021
144 698 Ditonton

The enormous cost of shoring up the economy, because of the pandemic, has been spelled out by the chancellor in today's Budget. Mr Sunak revealed a series of measures that will take the UK's tax burden to its highest level since the 1960s. He insisted that without “corrective action” the national debt would go on rising indefinitely.
There will be more spending in the short term. The furlough scheme for workers and support for the self-employed will be extended to September as will the £20 a week uplift in Universal Credit.
For the retail, hospitality and leisure sectors the business rates holiday will continue until June. There's an extra £65 billion being spent on the whole range of support measures.
Paying for all this will take decades according to the chancellor. Income tax allowances will be frozen from April 2022 for 4 years. This means more than a million people will start to pay income tax and a million more will start to pay the higher rate. Corporation Tax, paid by companies on their profits, will rise from 19 to 25 percent by 2023.
That will only make a dent in the record amounts the government is borrowing, more than £355 billion this year alone.
The Office for Budget responsibility says the overall Budget package will lead to the highest tax burden on the UK economy for more than half a century.
Huw Edwards presents BBC News at Ten reporting by political editor Laura Kuenssberg and economics editor Faisal Islam.
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  • How about lowering the salary for the parlement

    alex derpy raccalex derpy racc7 hari yang lalu
  • Borrowing more like printing more money the rich billionaires should just pay the depth that's the only way to fix this

    alex derpy raccalex derpy racc7 hari yang lalu
  • If you voted Tory you deserve this. Play stupid games, win stupid prizes.

    ZenexZenex8 hari yang lalu
  • Luke 8:17 For there is nothing hidden that will not be disclosed, and nothing concealed that will not be known or brought out into the open. YOUR EYES WILL BE WIDE OPEN AND EVERYTHING FALLS INTO PLACE...ONCE YOU RESEARCH ID2020 and also the World Economic Forum's 'Great Reset'. two arms of the same plan to force us into a China-Model economic/medical prison-society. The 'Reset' is the social-engineering/political/economic arm and ID2020 is the medical-pharma/digital-surveillance arm. Both are operating in tandem to build-up a new globalist vision...where they - the 1% - have total control over the freedom-less 99%. This 'virus' is being used as a means to implement these joint agenda's. ID2020 was officially launched in 2016 - 4 years in advance of covid in 2020...did THE PLANNERS have a Crystal ball to accurately predict the year of Covid-19 ? Both ID2020 and the Reset and the rich and powerful behind them have been preparing for many years to reshape our societies/economies/lives and these changes are all being rolled-out under Covid-measures...Immunity-Passports/digital track-tracing surveillance and mass-vaccinations.

    Dilip PatelDilip Patel15 hari yang lalu
  • I predict a lot of people will be moving OUT of the UK.

    legalburrito788legalburrito78815 hari yang lalu
  • 2:33 *YOUR FUTURE.*

    Poo TubePoo Tube18 hari yang lalu

    Kishan ZalaKishan Zala19 hari yang lalu
  • Big gang firewood luv ok luv

    Patrick MosleyPatrick Mosley20 hari yang lalu
  • Total scam

    Blue Colt7Blue Colt725 hari yang lalu
  • no mention of the out of control real inflation then ?

    Morocco MoleMorocco Mole28 hari yang lalu
  • No worries guys. Let's be like Italy where most under 26 year olds have never had a job.

    GoldGold28 hari yang lalu
  • Plandemic was put into action to raise the retirement age and kill the elderly. Are certain governments really this incompetent or purposely doing a bad job.

    GoldGold28 hari yang lalu
  • The CURE for all of our problems is to GET RID of the DICTATORS ! All of our problems were CREATED by the DICTATORS and the mass-media liars !

    juan garciajuan garciaBulan Yang lalu
  • Recently, I invested in both stocks and crypto but currently I believe crypto is doing much more better than stocks. Think I'm right?

    Micheal WessonMicheal WessonBulan Yang lalu
    • I've got 1 BTC!! All thanks to Jessica!

      Ket LachaKet LachaBulan Yang lalu
    • There's no better way to become rich than investing. There's no better investment than crypto investment!

      Anthony JackAnthony JackBulan Yang lalu
    • I was told about Jessica's tradin service in my company and I'm seeing people talk about her here too. She must be a professional.

      Feng MianFeng MianBulan Yang lalu
    • Thanks to my office mate who introduced me to Jessica, I'd have been broke today.

      Brixton AadenBrixton AadenBulan Yang lalu
    • Investments are life-savers!

      Isla VivianIsla VivianBulan Yang lalu
  • Oh did they run out of plastic to make money now or?

    HadriusHadriusBulan Yang lalu
  • The aromatic chemistry universally slow because card logically heal opposite a imperfect gliding. youthful, sick handball

    Ebenezer SamEbenezer SamBulan Yang lalu
  • leaving this shit hole. Ps. 2:02 Boris looks really fuckt up xD

    O G.O G.Bulan Yang lalu
  • We all have to borrow from China, for the virus that came from China,,,,,

    Fernando D'AgnilliFernando D'AgnilliBulan Yang lalu
  • Thank you to all idiots who believed and still believe in Corona circus!

    AndrewAndrewBulan Yang lalu
  • what is the point in increasing national minimum wage if our taxes go up typical inflation for you so really you get less money off working but that's the right wing government and you still vote for them dense ...

    Shy SocietyShy SocietyBulan Yang lalu
  • Student graduating soon, got no support from the university of government, yet I will be responsible for helping them pay the money back. Nice.

    ChicksDiggitChicksDiggitBulan Yang lalu
  • That’s bullshit

    Bella RozeBella RozeBulan Yang lalu
  • I saw a comment somewhere that said so for a virus that only really affected the older generation the youth and upcoming generation will have to pay for it ....

    anushka977anushka977Bulan Yang lalu
  • Yes, let's make those that were rendered destitute by the Lockdown pay for the damages of the Lockdown, while granting the multi-national mega corporations who profited from the Lockdown all the tax breaks and loopholes they need to not pay anything. To fix the economy, we need to start with owning up to the fact that it was the lockdown, the decisions of the politicians, not the virus, that ruined our economy and driven millions of people into destitution and tens of thousands of small independent businesses to bankruptcy.

    KilravokKilravokBulan Yang lalu
  • Imagine we had pretended coronavirus never existed.I wonder how many people would have died?

    Muhammad UddinMuhammad UddinBulan Yang lalu
    • Same as the amount of people who died in 2019, or less even

      KeithKeithBulan Yang lalu
  • It explains why they didnt take action when everyone else did so they can charge more tax.... I wonder if Brexit never happened would we be in a better place

    L VL VBulan Yang lalu
  • Knew it would come sooner or later.

    Mr MangoHeadMr MangoHeadBulan Yang lalu
  • I thought labour was supposed to be the tax and spend party.The conservatives have been in power for so long theyve forgotten their own principles.

    Gary WallsGary WallsBulan Yang lalu
  • Where are the billions we are saving every month for not being a member of the EU anymore??

    Solo RoySolo RoyBulan Yang lalu
  • We need to join the Green Party enmasse and make it the official opposition, because the Labour Party aren't opposing this mess

    Green SupporterGreen SupporterBulan Yang lalu
  • That's £355 billion and not a penny went in to my account as ive been working through this pandemic and I have to pay higher tax? If such thing called 'justice' existed, not every one would be paying the same amount on tax, specially those whose not seen a penny out of that!

    C 10C 10Bulan Yang lalu
  • Hes going to cash it in at Wrestlemania lol and bring the title to UK parliament.

    Mustapha ZacariahMustapha ZacariahBulan Yang lalu
  • Who does the government borrow money off, and how do the lenders get that money? Its a joke, one hand washes the other. Stammer didn't say what he would do different, because it would pretty much be the same. WTF!

    Pesky MogwaiPesky MogwaiBulan Yang lalu
  • lot's of comments showing disappointment but i can't see anyone suggesting any alternative

    O SO SBulan Yang lalu
  • funny how he keeps turning his head left and right. but i guess it's just nervousness

    O SO SBulan Yang lalu
  • you can increase corp tax as much as you want, doesn't necessary mean you will receive more in tax revenue, companies can easily manipulate their end year profits

    O SO SBulan Yang lalu
  • Firstly, - Remove obsession of overseas interference and meddling with foreign political affairs. - Recall all overseas military presence, have legislations and bound relationships on a written basis approach. (Have t&c's and responsibilities, expectations and possible sanctions if contracts is breached, in black and white). - 100% transparent intentions and agendas by the governments, governments administration, personal in key economic and political positions. - What direction is the UK seeking to pursue as of Brexit? - Expectations and standards of society post Brexit? - Focus on Britain, the UK, the people and citizens of this country!

    Fred GalaxyFred GalaxyBulan Yang lalu
  • Wot a joke

    Jonathan BeckJonathan BeckBulan Yang lalu
  • I wish USA news was more direct in reporting without anchors and reporters putting their own personal spin and sarcasm. BBC shows both sides equally (For the most part) and at the end doesn't tell you how to think and digest the information, leaving it open to the viewer to decide (again, for the most part to me at least). BBC also displays WORLD NEWS which America has abandoned it seems. Sad to say I get my news from across the pond more regularly these days.

    RichardRichardBulan Yang lalu
    • @03 AI Nope, but I work internationally so I care

      RichardRichardBulan Yang lalu
    • Do Americans really care about "World News"?

      03 AI03 AIBulan Yang lalu
  • oh i hate being gen z

    laura flowerslaura flowersBulan Yang lalu
  • Obviously we’re going to have to pay all this money back but now Is not the time. We need to wait until the country is back on its feet and over the traincrash that is brexit. I understand that at some point we’ll have to have higher taxes but when pretty much everyone is broke. Also force Starbucks and google and the like go pay taxes. Close loopholes. Fuck these thieves.

    josh malcolmjosh malcolmBulan Yang lalu
  • It's not just the lockdowns that crippled commerce and trade. The ramifications of brexit haven't even fully kicked in yet. And when it does, brits will really feel the punch in the nutsack.

    Integrated Hate SpreaderIntegrated Hate SpreaderBulan Yang lalu
  • We all take pay cuts and tax rises they get pay increase and pay no tax lol

    Owain WilliamsOwain WilliamsBulan Yang lalu
  • This south african variant is considered more potent mutation of covid19, as we all know that south african is the capital of virus prone region. Awaits, that this could be more contagious than UK variant and even more dreadful. It immensely show more complication in our health system. And besides coronavirus mutation will never stop! it will continue developing new qualities in it and keep mutating until it become more and more life threatening,

    madeline levymadeline levyBulan Yang lalu
  • People need to stop complaining. I think its the best think they can do, and uk will manage like always.Its one of the only country in thes preeurope that does this, other countries dont rly care about their people.. Gj Sunak

    Dani DarkDani DarkBulan Yang lalu
  • Gotta pay for that pay rise while they've put people out of work , why borrow when you can print it that's the scam. All the problems politicians have caused , lockdown open border. Useless embeciles. Investigate government contracts , will Amazon and all other tax dodging corporations pay or is that to hard.

    Gorilla's in The MistGorilla's in The MistBulan Yang lalu
  • Don’t forget the £20 billion saved on 120000 dead people’s state pension rip

    JJBulan Yang lalu
  • What about all the plonkers like me who worked throughout all this

    Amo SAmo SBulan Yang lalu
  • Didn't everyone call Crobyn a communist when suggested doing the same?

    DZGNDZGNBulan Yang lalu
  • Always a negative take from Labour ... when they (Labour) do face up to the difficulties and support the measures needed to pay our way it will be "TOO LITTLE TOO LATE"

    David HodgesDavid HodgesBulan Yang lalu
  • Are children will be paying this governments dept of for decades get rid of tories there purposely doing this so they can push more austerity on the poor people and free tax breaks for the rich self entitled wake up people

    MarkMarkBulan Yang lalu
  • You government caused this chrises when you were told to shut boarder but bojo refused and wanted everyone to catch the viruse so they could build there own emune system to fight the viruse even a week earlier we wouldent be in this mess its you government that should compensate the people you watch the class action lawsuits come after government do forget these evil scumbags in government murded your family members

    MarkMarkBulan Yang lalu
  • Tories increase tax. Time for my accountant to get creative with my tax return.

    JansenJansenBulan Yang lalu
  • Who is the government borrowing money from tho

    ŇĄBź ÅĽÎŇĄBź ÅĽÎBulan Yang lalu
  • Plus why should I put money towards someone's wage that takes someone else's money in exchange for alcohol where they are either left ill injured dead or go home and take their anger out on their kids and families ERM no get another job coz I'm not funding ya okay

    Bridget GibsonBridget GibsonBulan Yang lalu
  • So basically everyone is paying for all the furloe that's what the tax will cover ERM why should folks fund pubs and night clubs etc they don't use and I'm just saying

    Bridget GibsonBridget GibsonBulan Yang lalu
  • Itchy Nutsack.

    Out Here In The PerimeterOut Here In The PerimeterBulan Yang lalu
  • wtf that is going to backfire hard. They're taxing poor people who don't have much, who have so little they weren't paying taxes before, and giving a tax break to businesses to "encourage investment." Businesses don't work like that. They invest because they're profitable and investment promises more profits. Y'know what happens when you tax the poor? They spend less on the economy. Mark my words, this plan will Slow Economic Recovery if it doesn't create another downturn.

    CP MillsCP MillsBulan Yang lalu
  • My question is : The people whom are making below 12500 pounds per year, are they included in the new tax payment scheme ??

    Mohammed AmhadouchMohammed AmhadouchBulan Yang lalu
  • British, are you happy, by your choices to elect the Conservatives, Enjoy, can you object, or oppose, I doubt it, transferring you to punch of sheep.

    sam kasiersam kasierBulan Yang lalu
  • This has always been an issue since the Government started borrowing money from private banks and paying interest on the principle, simply because the interest does not exist, if the UK was a business or household it would have filled for bankruptcy. Lockdown has just exacerbated the situation by borrowing many times more than usual. This is all to usher in the great reset which is being pushed globally by the world economic forum. As announced, corporation tax will go up therefore businesses will be inclined to operate outside the UK, taking many jobs with them, the Government will cut public spending putting people through terrible austerity. The people will be crying out "give me the great reset".

    The PreacherThe PreacherBulan Yang lalu
  • Covid and Brexit Crisis!!!!

    Diarmaid O'RiordanDiarmaid O'RiordanBulan Yang lalu
  • Raise food prices and taxes. Nice.

    Tomek S.Tomek S.Bulan Yang lalu
  • Looking for money? Stop giving tax cuts to big corporations!

    Tomek S.Tomek S.Bulan Yang lalu
  • Some people comfortably sit at home and get paid ( and resist to go back to work ) and some people still working ( at home or at work ) what an injustice, right?

    Ida MonkIda MonkBulan Yang lalu
  • The NHS needs to pay its nurses a decent wage. They have to be the most underpaid Nurses in the world. Come on England it’s time to take care of the Nurses that are taking care of you..and the English population!!!

    Grant SolderGrant SolderBulan Yang lalu
  • They locked you up, stole your freedoms, Killed off your grandparents, raised your taxes. And you’re still going to vote for them. Aren’t you...

    Trance Voyage SessionsTrance Voyage SessionsBulan Yang lalu
  • I’ve never realised till now just how bias the BBC is

    Jordan whickerJordan whickerBulan Yang lalu
  • If people can't spend goverments and business can't earn more money. That's economics 101 Disgusting Neo-liberal leaders, lucky we don't have zapatistas in England

    Thicc FishThicc FishBulan Yang lalu
  • We can't let businesses fail! Quick to the money machine! Let's print money! Uh, we seem to be going into £335 billion of debt...

    Thicc FishThicc FishBulan Yang lalu
    • @Thicc Fish lol so true, it's sad how so many people have no idea how money works, people think our government are spending our taxes, and trying to justify to us what they're spending them on smh it's sad how we were all fooled!

      Emz 3103Emz 3103Bulan Yang lalu
    • @Emz 3103 Idk, printing money worked for Venzuela or the Wymar republic, I don't see it ending badly again

      Thicc FishThicc FishBulan Yang lalu
    • The bank of England prints the money then lends to the government with interest, the government then lends it to the banks on the high st with interest, the bank then lends it to you with interest. So you pay back what you owe to the bank plus the interest. It's your income tax that pays the INTEREST on whatever the boys in government have borrowed from the BofE. The debt is always there as the publics income tax only pays the INTEREST on the loan that way they can continue to tax your pay every month! If we pay the original debt the government can't continue tax us! See how this Ponzi scheme works? Interestingly, the men who absolutely opposed this abhorrent system and were preventing it from establishment were ALL on the Titanic! The weJ ish bankers of the Rothschild immediately put this system in place and we no longer worked for gold and silver, we now worked for bits of paper (money) we could exchange for a home and some food etc. Everytime a baby is born the government can borrow from the BofE whatever they think that baby will make in tax over its lifetime. Sold to the bank of England as soon as we're born by the Government. Born into debt! Your birth certificate is proof you've been sold to the bank

      Emz 3103Emz 3103Bulan Yang lalu
  • Elites use Politics to make humanity think they got freedom.

    Fifty OneFifty OneBulan Yang lalu
  • We love English.... We dont love Indians...

    Adamas Starry SimpsomAdamas Starry SimpsomBulan Yang lalu
  • How the f you spent that much money it’s a mystery. You should have paid everyone free money if you are charging everyone now. Why should I pay for these f worthless lazy piece of shit out there.

    BenzosBenzosBulan Yang lalu
  • I have never benefited from any support whatsoever from this government, I have always paid more taxes than anyone I knew and I had to deal with more scrutiny than anyone I do, now I have to pay for this pandemic. I’m sick for this bullshit. I wish to see these dickheads gtfo.

    BenzosBenzosBulan Yang lalu
  • Such bullshit. Businesess will most likely engage in Hollywood accounting. You really don't need to show profit if you don't want to. Stupidly they think these business will instead invest the money to expand to avoid tax but let's be honest. This isn't happening

    BdurveBdurveBulan Yang lalu
    • No they expect it to happen and let it happen.

      Trance Voyage SessionsTrance Voyage SessionsBulan Yang lalu
  • Tax rises after 2008-09 crisis - Labour lost power for a decade. Tax rises after Covid crisis - probably even more votes for Tories . Go figure...

    NicholasNicholasBulan Yang lalu
  • the plan to keep the borders up, to keep cases high and justify tax rise of the poor and middle class

    MoezMedia 98MoezMedia 98Bulan Yang lalu
  • Smashing the middle classes. Gonna be rich n poor. Reset

    Ryan SweeneyRyan SweeneyBulan Yang lalu
  • I am nurse in the UK and my pay here is no longer enough to sustain my basic needs. NHS workers like me are emotionally and physically exhausted. Thinking of moving to US as my one month pay here is equivalent one week pay there.

    happymomentshappymomentsBulan Yang lalu
    • @happymoments I'm not a nurse but I work on AnE all day. I see it all too I'm on £10.50 per hour. I'm just grateful to have a job.

      Emz 3103Emz 3103Bulan Yang lalu
    • @Emz 3103 i kept my job because health workers are the only one who can carry out this work. You dont expect a teacher to come and administer medications to patients. We dont have a choice and we have a moral obligation not to abandone our post. We cant just go on strike, as leaving our critically ill patients has serious repercussions. We are being held in the neck so to speak. I am aware that everyone lost their jobs and i feel for them. What just we want is to value our effort and sacrifices with a little pay rise. The amount of money we receive now does not equate with the emotional and physical exhaustion we experience everyday. Some health workers even has symptoms of mental illness but still they chose to go on with theyre everyday work. Its really easy to criticize when u urself doesnt share the same experience of those people who fought this war.

      happymomentshappymomentsBulan Yang lalu
    • One thing is though, your salary is higher than most, and at least you've kept your job throughout and enjoyed your monthly salary. If you can't manage on your salary is think about reducing your basic needs! People on jobseekers because they lost their jobs manage on £70 a week. Not being horrible I'm just saying maybe you need to think about how much you're spending because millions manage on a lot less.

      Emz 3103Emz 3103Bulan Yang lalu
    • They clap in the streets and vote Tory in the closet..

      Trance Voyage SessionsTrance Voyage SessionsBulan Yang lalu
  • Freeports for amazon to move to and pay even less tax , tax write offs for american companies with great accountants tax rises for the key workers , financial restraint for nhs workers niccccceee .

    James JonesJames JonesBulan Yang lalu
  • A simple logical question: Where do all the worlds governments borrow this money from? And where does the borrower get all this money from?

    Faheem AFaheem ABulan Yang lalu
    • @Marius Pop and where do they get the money from to borrow these countries?

      Faheem AFaheem ABulan Yang lalu
    • UK banks, IMF, World Bank...

      Marius PopMarius PopBulan Yang lalu
  • Our government are so curupt, why do we have VAT on top of the Fuel tax??? all our government are doing is making money out of thin air this is dangerous for all of us and our country if this carries on we will be in hardest ression ever seen and unemployment through the roof currency is not made in thin air the furlong payout is just money made in thin air there is no real money just a bigger debt. Our government are killing mine and yours beautiful country these must be removed or we need the biggest banking crash ever seen . Return to gold and silver for currency. The big companies in the UK pay very little tax towards the UK do your research????

    MW XCMW XCBulan Yang lalu
  • Furloughs is bullshit, lots of employer making their employees work and paying them by furloughs schemes. Only working class key workers killing their self since last year

    minhaj nasirminhaj nasirBulan Yang lalu

    ChrisChrisBulan Yang lalu
  • Another way they could get money bk is by forcing corporations who have intentionally frauded the furlough system into liquidation were the government can attain all their assets of such companys if found guilty 🤔

    birdofpreyproductionsbirdofpreyproductionsBulan Yang lalu
  • People who earn little will start paying tax 🙄 whilst these Aholes are in tax havens is this a joke!!!!

    birdofpreyproductionsbirdofpreyproductionsBulan Yang lalu
  • 1:37 "Lockdowns cut income. Busted the country's bank balance." Ummm, nope. Lockdowns didn't do that, the virus did that. This is the equivalent of saying "the cast made my arm stiff, not breaking my bone". How BBC is not understanding this a year into this pandemic is ridiculous and well explains well so many people don't get it either.

    MrEvanDavidsonMrEvanDavidsonBulan Yang lalu
  • What did people think would happen when like 70% of the country sat around for a year doing fk all 😂

    NvS 1337NvS 1337Bulan Yang lalu
  • Lots of Bull talk. In NUMBERS, whats the impact???

    Freddy Eduardo Alcazar BarrientosFreddy Eduardo Alcazar BarrientosBulan Yang lalu
  • It's a surprise stamer has oiled and combed his hair and snake 🐍 sorry sunak has also oiled his hair and combed it

    MadinahPaak1MadinahPaak1Bulan Yang lalu
  • Why not tax amazon and many of these companies that avoid tax in uk

    MadinahPaak1MadinahPaak1Bulan Yang lalu
  • Rich will get richer regardless... Poor will pay more as per usual.

    Shamim AhmedShamim AhmedBulan Yang lalu
  • He started with a lie ,what's new? Only idiots thought it would be temporary.and as per the poorest will pay the most. How can we take seriously ppl hiding behind masks ?

    FreeMask WithEveryFlyingHaggisFreeMask WithEveryFlyingHaggisBulan Yang lalu
  • Bullshit everybody had a break apart from those who have been working hard and still they will pay the nation debts

    Aymen FAymen FBulan Yang lalu
  • What pandemic??We already in the "New World order "Most haven't realised that!!!

    Espiritual meEspiritual meBulan Yang lalu
    • What does that even mean

      Barack ObamaBarack ObamaBulan Yang lalu
  • Do borrow ourselves out of economic crisis?

    BrandonBrandonBulan Yang lalu
  • the banks rule us all don't kid yourself it's all a game.

    MM 12MM 12Bulan Yang lalu
  • All this and still less than 500 people under 65 died from covid with underlying health conditions dead. What a load of lies, lies and more lies. This is ignorance at the highest level spread across the population like a shit spread. Thanks govercunts, you have been as useful as a chocolate spacesuit. This is all a total lie.

    Steven JonesSteven JonesBulan Yang lalu
  • Read THE GREAT RESET BY KLAUS SCHWAB and open your eyes!

    Brooke ViceBrooke ViceBulan Yang lalu
  • Maybe the MPs could donate their pay rise to help x

    Tracy MooreTracy MooreBulan Yang lalu
    • The MPs are not having a pay rise.

      Owain GarsideOwain Garside29 hari yang lalu