Tax hikes, furlough extensions, hawkish tone: Predictions for UK budget


Chancellor of the Exchequer Rishi Sunak leaves 10 Downing Street after attending a Cabinet meeting on 14 February, 2020.

Barcroft Media

As British Finance Minister Rishi Sunak prepares to set out the country’s economic path to recovery, analysts are weighing the possibility of tax hikes and a nod to future fiscal tightening.

The budget, due on March 3, comes as nationwide Covid-19 restrictions are set to be gradually unwound over the coming months, culminating in full removal on June 21. Meanwhile, more than 20 million people in the U.K. have now received a first vaccine dose.

Sunak told the BBC over the weekend that his budget will “provide support,” but cautioned that the “shock to the…


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