Insight
Title:
The return of big government
Description:
The Conservative government's reponse to the crisis has been more reminiscent of Labour economic policy. This has created a national economic-political consensus probably not seen since the aftermath of World War II.
The main proposal to pay for the additional spending seems to be in the form of an increase in corporation tax in the March 2021 budget. The corporation tax rate will increase to 25% in April 2023 on profits over £250,000 with the relief tapering down to the current rate of 19% for profits under £50,000.
PESTEL:
Political