As per the latest report from the UK Times, British Chancellor Rishi Sunak is expected to shelve plans for tax rises in his March budget amid mounting concerns about the “colossal” scale of the economic fallout from coronavirus. The news further mentions the recent £4.6 billion support package announced by the British policymaker to help businesses after the third national lockdown while saying, “He also refused to rule out extending the furlough scheme, which pays 80% of people’s wages, beyond April. However, a senior government source said that it was the “wrong time” for tax rises and they were likely to be shelved.” Fx implications GBP/USD is yet to respond to the news while waiting for the markets to get active around 1.3570. The cable has recently been pressured amid the coronavirus (COVID-19) woes. Recently, Japan is said to have found another variant of the virus having similarities to the British strain of the covid. The news should have ideally weighed on risks but AUD/USD, the risk barometer in Asia, remains mildly positive around 0.7750 by press time. Read: AUD/USD: Bulls and bears jostle around mid-0.7700s amid US stimulus hopes FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next GBP/USD Price Analysis: Bears eye 1.3535 support confluence FX Street 11 months As per the latest report from the UK Times, British Chancellor Rishi Sunak is expected to shelve plans for tax rises in his March budget amid mounting concerns about the “colossal” scale of the economic fallout from coronavirus. The news further mentions the recent £4.6 billion support package announced by the British policymaker to help businesses after the third national lockdown while saying, “He also refused to rule out extending the furlough scheme, which pays 80% of people’s wages, beyond April. However, a senior government source said that it was the “wrong time” for tax rises and they were likely to be shelved.”… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
