Chancellor set to unveil £9bn-a-year tax break for business - reports

Business orientated tax break 'at heart' of Autumn Statement

clock • 1 min read

Chancellor Jeremy Hunt is set to reveal a £9bn-a-year tax break for business later today (22 November) in his Autumn Statement, according to reports.

The Financial Times said the permanent tax break was an attempt to "jolt" the "sluggish" UK economy back into life. It added that in the face of forecasts which predict a flatlining economy in 2024 Hunt was also likely to cut National Insurance, announce supply-side reforms and measures to get more people back into work.  The FT said his flagship reform to boost the country's growth rate would be the permanent extension of "full expensing".  It explained the scheme was due to expire in 2026 but would now remain in operation. It allows a company to immediately deduct all of its spen...

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