Top member of Reeves' Budget team previously backed plans to hit small businesses
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Top member of Reeves' Budget team previously backed plans to hit small businesses
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"A key member of Rachel Reeves' Treasury team championed proposals to slash the threshold for businesses to pay VAT to 30,000, it has emerged, fuelling speculation the measure could be implemented as the chancellor seeks to raise billions to fill the Budget black hole. Pensions minister Torsten Bell backed plans to introduce a sharp cut to the rate at which small businesses begin to pay VAT in his previous role as chief executive of the Resolution Foundation think tank."
The Independent covers reproductive rights, climate change and Big Tech with reporters on the ground. Donations fund sending journalists to report from both sides and to produce documentaries such as 'The A Word' about American women fighting for reproductive rights. The Independent does not use paywalls and aims to make quality journalism accessible to everyone, funded by those who can afford it. Pensions minister Torsten Bell previously championed proposals to cut the VAT registration threshold to 30,000 while chief executive of the Resolution Foundation. Resolution Foundation research calls the UK's VAT threshold the highest in the world and a disincentive to small business growth, warning the Treasury misses VAT revenue and that lowering the threshold could raise billions.
Read at www.independent.co.uk
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