Burnout Budget | Jeremy Hunt's hiked corporation tax could damage workplace culture

On Wednesday, Chancellor Jeremy Hunt announced his long-awaited Spring Budget, which saw corporation tax increase from 19% to 25% - one of the largest corporation tax increases in history.

This increase comes to the dismay of many business owners who are already facing the pressures of high interest rates and inflation.

Other points announced in the budget include working parents being entitled to 30 hours a week of free childcare and increasing the tax-free allowance for pensions from £40,000 to £60,000.

Spectators have pointed to the fact that, although corporation tax might seem like it impacts primarily business founders, a high tax economy is likely to increase prices of goods and services, while lowering wages and increasing the possibility of layoffs.