Treasury Plans to Invest Billions in HMRC’s Capacity to Collect Tax Debts

Chancellor Jeremy Hunt has vowed to raise billions for the UK’s public services by investing in HMRC’s capacity to collect tax debt. Delivering the Spring Budget on Wednesday, Mr. Hunt said the Treasury set out plans to polish its debt recovery process in the next five years. “The government is continuing to tackle tax non-compliance by making further investments, including in HMRC’s capacity to collect tax debts. These measures are forecast to raise over £4.5 billion of tax revenue by 2028-29,” the chancellor said in his speech. The announcement comes amid the cost-of-living crisis in the UK, with a sharp public focus on government policies on increasing funding for public services....