Government 'will have to raise taxes and freeze wages to cover £300bn coronavirus bill'
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mirror.co.ukThe Government will have to raise taxes and freeze wages to pay the estimated £300 billion coronavirus bill, a leaked document reportedly claims.
A confidential Treasury assessment said the UK's deficit could reach £337 billion this year because of the crisis. Measures including income tax hikes, a public sector pay freeze and the end of the triple lock on pensions may be required to fund the debt.
According to the Daily Telegraph, Chancellor Rishi Sunak's report said filling the gap in the public finances through tax revenue rises would be "very challenging without breaking the tax lock". "To raise fiscally significant amounts, we would either have to increase rates/thresholds in one of the broad-based taxes (IT, NICS, VAT, CT) or reform
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