Economy

Budget 2021: Chancellor unveils new £65bn support package

Sunak also confirmed that corporation tax will increase to 25% in 2023 in order to help finance the new support measures

Chancellor Rishi Sunak has outlined a new £65bn support package in his March budget, confirming the decision to extend the furlough scheme until the end of September as well as new loan schemes of up to £10m for businesses.

In what is Sunak’s second budget since he joined office in 2020, the chancellor said that despite a record £280bn of financial support to date, the damage coronavirus has caused has been “acute”.

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