Jeremy Hunt is set to trigger a Tory back-bench revolt over the Budget as he pushes ahead with a rise in corporation tax, despite warnings it will harm the economic recovery.

The Chancellor will defend the 19 to 25 per cent rate rise, which will kick in next month, by arguing that major tax cuts at this time would risk destabilising public finances.

Mr Hunt will also try to take the sting out of the rise by unveiling a multi-billion pound scheme allowing businesses to reduce their tax bills by investing in the UK.

Read your updates here: https://www.telegraph.co.uk/politics/2023/03/14/budget-revolt-jeremy-hunt-presses-ahead-chilling-corporation/

#rishisunak #budget #government

Subscribe to The Telegraph with our special offer: just £1 for 3 months. Start your free trial now:
https://www.telegraph.co.uk/customer/subscribe/digitalsub/3for1/?WT.mc_id=tmgoff_pvid_conversion-subscription_editorial-iniative_03-22_EGW-13_organic_youtube

Get the latest headlines: https://www.telegraph.co.uk/

Telegraph.co.uk and YouTube.com/TelegraphTV are websites of The Telegraph, the UK's best-selling quality daily newspaper providing news and analysis on UK and world events, business, sport, lifestyle and culture.