Delivering the Budget in Parliament on 3 March 2021, Chancellor of the Exchequer Rishi Sunak said: ‘This Budget meets the moment with a three-part plan to protect the jobs and livelihoods of the British people. First, we will continue doing whatever it takes to support the British people and businesses through this moment of crisis. Second, once we are on the way to recovery, we will need to begin fixing the public finances – and I want to be honest today about our plans to do that. And, third, we begin the work of building our future economy.’
This Budget follows a year of extraordinary economic challenge as a result of the ongoing COVID-19 pandemic. The announcements set out how the government is extending its economic support to reflect the cautious easing of social distancing rules and the reopening of the economy in the government’s roadmap.
Chancellor said his immediate priority continues to be supporting those hardest hit, with extensions to furlough, self-employed support, business grants, loans and VAT cuts.
He also set out plans to drive jobs, growth and investment to help the economy rebound – and spoke about the tough choices required to put the public finances on a more sustainable path.
We will send more detailed commentary after the publication of the Finance Bill on 11 March and the Command Paper, “Tax policies and consultations (Spring 2021)” on 23 March.
What does Budget 2021 mean for your future plans?
If you would like to review your current situation or discuss how Budget 2021 could affect your future plans, please contact us – we look forward to hearing from you.
