Thread by @Reuters

💷 From the furlough scheme extension to a tax hike for many businesses, Britain's Chancellor of the Exchequer Rishi Sunak promises 'whatever it takes' in COVID-19 budget 👇 reut.rs/3e5F5sU

🇬🇧 Britain will raise corporation tax to 25% from 19% from 2023 to help pay for the cost of the COVID crisis but tempered the tax rise with a 'super deduction' to spur investment, @RishiSunak said reut.rs/3uJyiLs

Britain will freeze the amount of money that people can earn tax-free and also the threshold for the higher rate of income tax until 2026, the UK Chancellor said reut.rs/3qdUJ80

Rishi Sunak also announced a costly extension of his emergency aid program to see Britain’s economy through its current coronavirus lockdown, but announced a tax hike for many businesses as he began to focus on fixing the public finances reut.rs/388CVoC

Rishi Sunak said the budget deficit in the 2021/22 financial year, which starts in April, is expected to be 10.3% of GDP, citing new forecasts from the @OBR_UK.

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