- Expenditure on R&D as percentage of GDP trails behind target.
- Trade bodies demand temporary rate be made permanent.
- Around 1m people were still furloughed.
- Employees could benefit in the short-term.
- Government relaxes triple-lock rules due to distortions caused by the pandemic.
- HMRC postpones MTD ITSA and basis period reforms after listening to concerns.
- Opposition would increase digital services tax to fund the move.
- Monthly borrowing remains above pre-pandemic levels.
- Basis period reform also delayed to at least 2024.
- New paper stops short of recommending tax year change.
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