UK Plans Sweeping Changes to Tax and Benefits to Lift Growth (2)

Chancellor of the Exchequer Jeremy Hunt set out major changes to the UK tax and benefit system to encourage businesses to invest, entice people back into work and to pull the economy out of stagnation.

Companies will get £9 billion ($10.9 billion) a year of tax relief through a system of allowances for those making investments. Families will see a total of £94 billion over this year and next to offset the soaring cost of living, with more than £5 billion a year allocated to help with childcare costs.

Watch: UK Chancellor of the Exchequer Jeremy Hunt says Britain won’t go into recession.

Source: Bloomberg

The measures are the key parts of the Treasury’s annual ...