In Covid-19 situation, world over the governments are taking measures to increase financial resources and cut-expenses to deal with the additional financial requirement caused by the pandemic. For example, the United Kingdom recently levied £12bn healthcare levy pushing the tax burden to a record peacetime level. The move is expected to raise £36bn over the next three years. “I will be absolutely frank with you – this levy will break our manifesto commitment. But a global pandemic wasn’t in our manifesto either,” said the British Prime Minister Boris Johnson while addressing the UK Parliament.
