The mini-budget, which the government are calling the Growth Plan, laid out significant changes in taxation; a one percent cut in basic income tax, the removal of the top tax bracket altogether, cuts to stamp duty and the lifting of the cap on bankers bonuses.
Already existing tax rises are also being reversed, including national insurance, alcohol duty and corporation tax.
The CEOs for the Chambers of Commerce in Barnsley and Rotherham, Doncaster and Sheffield called the reforms an “important first step” for growth of businesses in a joint statement. Dan Fell, CEO of Doncaster Chamber of Commerce However, they also […]
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