Budget the 'sort you would expect to see in wartime', says economist

The video discusses the UK's fiscal challenges, focusing on the high GDP deficit due to the pandemic. It highlights the need for balancing immediate fiscal support with long-term deficit management. The Chancellor faces the task of providing support while planning for future tax adjustments, particularly in corporation tax. The video also covers the extension of fiscal measures like the furlough scheme and stamp duty to support the economy during lockdown.

What is the expected impact of raising taxes according to the Chancellor's considerations?

How much is the furlough scheme estimated to cost if extended by a couple of months?