Treasury Committee publishes additional Government response to Tax after Coronavirus Report

Tuesday 14 Sep 2021 @ 11:20
Parliamentary Committees and Public Enquiries

The Treasury Committee today publishes a further Government response to its report on Tax after Coronavirus.

Following the initial Government response, the Committee published a further report, expressing disappointment that some of its recommendations had been dismissed without a full explanation.

The Committee’s further report called on the Treasury to provide a clearer explanation of why it cannot accept its recommendation on the need for a tax strategy. The Committee is today publishing the Treasury’s additional response.

The Committee’s report, published in March, included the following recommendations:

Now is not the time for tax rises or fiscal consolidation, but significant fiscal measures, including revenue raising, will probably be needed in the future
Government’s tax lock manifesto commitment will come under significant pressure
Moderate increase in corporation tax could raise revenue without damaging growth
Government should prioritise reforming stamp duty land tax
Government should introduce temporary three-year loss carry-back for trading losses and increase investment incentives for business

Channel website: http://www.parliament.uk/

Original article link: https://committees.parliament.uk/committee/158/treasury-committee/news/157479/treasury-committee-publishes-additional-government-response-to-tax-after-coronavirus-report/

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