Great Britain

‘Delay’ should be the watchword for Rishi Sunak when considering tax rises within the Budget

W

hen Rishi Sunak presents his budget on Wednesday he should remember the famous (or perhaps infamous) prayer of St Augustine of Hippo: “Oh Lord, given me chastity and continence, but not yet.” The UK will probably need some tax increases, but now is not the time to bring them in.

There will probably need to be some increases in taxation to fill the hole in the nation’s finances created by the Covid-19 pandemic, but there are two reasons why he should delay.

The first is that you don’t want to add to the fiscal burden before the economic recovery is secure. Indeed you do the reverse. The US Congress is considering another $1.9 trillion fiscal boost put forward by the Biden Administration. The eurozone is considering more support, with Germany apparently reversing its previous stringency. This is not the time for the UK to move in the opposite direction.

Football news:

Cavani's goal to Tottenham was cancelled out after VAR due to McTominay's go-ahead
Lingard scored 8 goals in the Premier League season, repeating his personal best
Antonio Conte: Inter have grown a lot in all aspects in two seasons
Vazquez will miss the rest of Real Madrid's season. He has a sprained cruciate ligament
Mesut Ozil: Real Madrid are the favourites for the La Liga title. Benzema - the best striker of the championship
Bixant Lizarazu: Benzema is one of the best players in the history of French football
A cautious line-up hurt Barca in the first half and forced them to go all-in. Second half = fun