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<p>The reduced rate is intended to support the cash flow and viability of over 150,000
businesses affected by the COVID-19 outbreak. The Institute for Fiscal Studies and
other commentators have suggested that the expiry of any temporary cut should be carefully
timed if possible so as not to affect progress as the economy begins to pick up again.</p><p>The
Chancellor announced on 24 September that the VAT reduced rate is to continue until
31 March 2021, providing continued support to over 150,000 businesses and protecting
2.4 million jobs.</p>
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