The Finance Bill

Today, the Finance Bill had its Second Reading in Parliament – with measures to help deliver on Conservative promises to the British people in these challenging times.
  • We know that many people are worried about the impact of coronavirus on their lives, and we have set out an unprecedented package of measures to support jobs and businesses.
     
  • This Finance Bill is the first of this government– with measures to address the ‘taper problem’ in doctors’ pensions, reform Entrepreneurs’ Relief so that it genuinely works in the interests of small business owners, and increase R&D tax credits to significantly increase private R&D investment.
     
  • These measures are in addition to the Coronavirus Act, helping to protect life and the nation’s public health. This month, the National Living Wage also received its largest cash boost to £8.72, and we have a delivered a £100 tax cut for a typical employee by increasing the National Insurance threshold to £9,500 – putting more money in people’s pockets.
     
  • We are doing everything it takes to help our economy through this challenging time, ensuring people get the support they need to do the right thing, to stay at home, protect our NHS, save lives.

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