CHANCELLOR Philip Hammond has indicated that he will scrap predecessor George Osborne’s pledge to cut corporation tax to below 15%, according to reports.
Hammond has told EU finance ministers that the government intends to stick to a plan to cut the rate to 17pc by April 2020, from its current level of 20%, people with knowledge of the talks told Bloomberg.
The tax cut was proposed by Osborne as way to boost the economy in the days following the UK’s decision to leave the EU.
Increase governance without stifling competitiveness; enforce already-in-place rules; were the key messages from the business community after the government released a green paper on governance
Tax experts argue the government could end up with “precisely the uneven playing field” that it wants to abolish, in reining in salary sacrifice schemes
A multi-billion pound infrastructure investment programme has been announced by chancellor Philip Hammond in his first Autumn Statement.
Prime minister May outlines tax incentives to boost high-tech business, and further corporation tax rate cuts, to the CBI