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Every year, you’ll have probably seen pictures of a well-dressed politician holding up a red briefcase outside 10 Downing Street. This marks the day of the annual UK Budget – or annual financial statement – whereby the Chancellor of the Exchequer makes a statement to the House of Commons which provides details of the current state of the UK’s finances and then outlines proposals to change taxation for the benefit and improvement of the economy.
This year’s UK Budget is of significant importance due to the financial impact of the pandemic both on the UK’s economy and our everyday lives.
At 12:30pm today, Rishi Sunak, the current Chancellor of the Exchequer, outlined the blueprint on taxation for the foreseeable future before the House of Commons, and he is expected to appear in a public briefing at 5pm today.
You’ll find below a brief summary of the most important factors from the UK Budget 2021:
We’ll revisit the most important parts of the Budget over the next few days once the finer details have been explored.
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