United Kingdom raises 178 billion spending maneuvers

Healthcare Clearly, which will have extraordinary debt of £12 billion per year, already announced by Prime Minister Boris Johnson, financed by increased Social Security contributions, and through investments in infrastructure and technology to reduce waiting lists. 6 billion fund. Hospitals that have been lengthened during the pandemic.

more development support

Sunak also announced that international development aid would return to 0.7% of GDP in 2024, thus responding to criticism from both internal and abroad for the decision to reduce aid to 0.5% during the crisis period. especially because of the pandemic. From shipping to sparkling wines such as Prosecco, a range of tax cuts have been announced and attributed by Sunak to “the freedom gained now that we have left the European Union”.

Relief for hotels and restaurants

Domestic flights will be taxed less than international flights, both for environmental reasons and to encourage travel to the UK, with shops, pubs, restaurants, theatres, cinemas and gyms recovering from prolonged lockdowns.

low cost of credit

Although the public aid rain phase should end because of the health emergency, Sunak said: “The state represented half of the economy last year due to extraordinary circumstances and I don’t like it. We don’t want to live in a country where every problem The answer is to turn to the government and taxpayers’ money.” So he said, “My goal is to reduce taxes as quickly as possible, to reward work and innovation and creativity. That’s my mission ». Sunak, one of Margaret Thatcher’s The famous fan, whose portrait he hung in his office, has made no secret of his desire to reduce debt and get back on track. Public debt rose during the pandemic, but the cost of debt remains low, around 6 % of tax revenue, thanks to lower interest rates.For this reason, the government can continue to invest in innovation, infrastructure and research and development to restart the economy.

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