3/4, 8:34 AM (Source: TeleTrader)
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Sunak: New income tax policy will be very effective

United Kingdom Chancellor of the Exchequer Rishi Sunak stated on Thursday the income tax policy introduced through the British government's new budget would be "very effective" and affect the richest payers, who would be providing it fifteen times more than those who have less.

"I wanted to be honest with people, honest with the country, about the challenges that coronavirus has caused us, particularly in our public finances, and I don't think it would be right or straight to ignore those or let them be someone else's problem to fix," he stated.

In accordance with Sunak's new budget, tax thresholds will increase to £12,570 and £50, 270 next year and then freeze until April 2026.

Breaking the News / JR