Rishi Sunak flags tax rises in budget as total Covid spending tops £400bn

Tax increases required for businesses and workers to repair public finances, says chancellor

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Rishi Sunak has outlined tax rises on companies and workers to pay for an additional 65bn of financial support to see Britain through the coronavirus pandemic, taking total government spending on the Covid crisis to more than 400bn.

The chancellor trailed before the budget that he would extend the furlough scheme until September, and allocated billions of pounds in business grants and tax cuts to help employers while lockdown restrictions remain and the economy takes time to recover from the worst recession in 300 years.

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