Treasury ministers hope tax rises can be delayed until 2022 if the economy recovers quickly next year, it has been revealed. Earlier this week Chancellor Rishi Sunak refused to commit to the Tories’ triple tax lock – despite it being a key manifesto commitment. But senior Treasury ministers are waiting until the UK is past the worst of the coronavirus pandemic before looking at tax rises, The Telegraph reported. Mr Sunak has not ruled out raising income tax, VAT or National Insurance in the wake of the coronavirus pandemic. Later a Treasury spokesman said: ‘The chancellor, as any chancellor, rightly does not speculate on future tax policy.

Source: Daily Mail November 29, 2020 01:54 UTC