Hunt slashes taxes as OBR sharply downgrades growth forecast

By Tom Lowe2023-11-22T13:43:00

Relief allowing firms to claim back cost of investments to be made permanent

Jeremy Hunt will cut national insurance by 2% and has scrapped plans to end a tax cut allowing firms to claim back the cost of equipment in today’s autumn statement.

The chancellor described the ‘full expensing’ measure which lets businesses claim 25% of the cost of investments in IT, equipment and machinery as the “largest business tax cut in modern British history”.

…

Already registered? Login here

To continue enjoying Building.co.uk, sign up for free guest access

Existing subscriber? LOGIN

Stay at the forefront of thought leadership with news and analysis from award-winning journalists. Enjoy company features, CEO interviews, architectural reviews, technical project know-how and the latest innovations.

Limited access to building.co.uk
Breaking industry news as it happens
Breaking, daily and weekly e-newsletters

Get your free guest access SIGN UP TODAY

Subscribe now for unlimited access

Subscribe to Building today and you will benefit from:

Unlimited access to all stories including expert analysis and comment from industry leaders
Our league tables, cost models and economics data
Our online archive of over 10,000 articles
Building magazine digital editions
Building magazine print editions
Printed/digital supplements

Subscribe now for unlimited access.

View our subscription options and join our community