Hunt plans to extend UK tax breaks for hospitality, small businesses

Monday, November 20, 2023

Treasury Secretary Jeremy Hunt is considering plans to extend tax breaks for hospitality and small firms in next week's Autumn Statement as part of efforts to stimulate economic growth.

Among the plans being looked at today will be the launch of a combined cash Isas and shares Isa in an effort to encourage more investment in the UK stock market.

Mr Hunt is to make final decisions on his plans after receiving the most recent Office for Budget Responsibility budget forecasts on Friday.

Hunt imposed a six-year freeze on the personal allowance and limits, meaning more individuals are moved into higher rate tax brackets.

Meanwhile, Mr Hunt also declared the Chancellor 'is' happy 'to see a Tesla plant open in the UK and spoke to Elon Musk about the prospect.