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Treasury to look beyond lockdown

Philip Aldrick in the Times considers the measures the Treasury may take as Britain unlocks. He highlights that much of the Government’s support package will remain in place for a year or more, with VAT and self-assessed tax payments deferred to 2021, a business rates holiday lasting for 12 months and grants for small business not time-sensitive.

Mr Aldrick says rebuilding will mean higher taxes to fix public finances, citing Blackrock portfolio manager Rupert Harrison who says higher taxes are justified because the pandemic has shown that the state was a "disaster insurer". Higher tax would be a form of payment for the service, he suggests.

Read more here: The Times


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