Britain increases business tax to pay off nation's vast Covid-19 debt

Britain will raise corporation tax to 25 per cent from 19 per cent from 2023 to help pay for the cost of the Covid crisis but tempered the tax rise with a “super deduction” to spur investment, finance minister Rishi Sunak said on Wednesday.
 
“The government is providing businesses with over £100 billion of support to get through this pandemic so it is fair and necessary to ask them to contribute to our recovery,” Sunak told parliament. “Even after this change, the United Kingdom will still have the lowest corporation tax rate in the G7,” Sunak said.
 
Sunak