Responding to the budget, John O’Connell, chief executive of the
TaxPayers' Alliance, said:
“There were some wins for taxpayers today, but it doesn’t gloss
over the fact that this was a tax-raising budget.
“The chancellor is helping to rescue struggling sectors but £30
billion worth of tax increases will hit hard-pressed households
and businesses already under the highest tax burden in 70 years.
“Big tax hikes risk choking off the recovery Rishi wants before
it has even started, so let’s hope that other measures in the
budget help to boost jobs, spur investment and ultimately revive
the economy.”
Responding to the ‘super deduction’, John O’Connell said:
“The investment super deduction will sweeten the pill of massive
corporation tax hikes.
“The tax breaks will jump-start investment, but the sudden rise
in the headline rate will hammer Britain’s big employers at a
time when millions are on the verge of joining the dole queue.
“Making the investment allowances permanent and keeping
corporation tax down will build in huge benefits for employment,
productivity and the economy as a whole.”
Responding to the extension of the stamp duty holiday, business
rates holiday and VAT cut, John O’Connell said:
“It’s encouraging that Rishi has lent taxpayers a helping hand
and continued the holidays on stamp duty, business rates and VAT.
“Rishi’s offer of a respite from taxes will chime well, as these
struggling sectors get to grips with reopening after coronavirus.
“The chancellor should continue to offer lower rates until the
end of next year, to get the economy properly back on track.”
