You are here: Home - Saving & Banking - News -

Osborne plans to slash corporation tax following Brexit vote

0
Written by: Hannah Uttley
04/07/2016
George Osborne is planning to cut corporation tax to less than 15%, the lowest rate of any major economy, in a bid to ensure the UK continues to attract overseas investment.

Speaking to the Financial Times in his first newspaper interview since the Brexit vote, Osborne set out a five-point plan for the UK economy, which also covers a refreshed push for investment from China, maintained support for bank lending, redoubling of efforts to invest in the Northern powerhouse, and to preserve the UK’s fiscal credibility.

Osborne did not back away from his warnings of a Brexit-linked recession made before the EU vote, but maintained it was important for the UK to ‘make the most’ of the situation.

The Chancellor hopes his plans will build a ‘super economy’ with corporation tax rates that would almost rival Ireland, which has a rate of 12.5%.

Following David Cameron’s announcement last week that he will step down as Prime Minister, Osborne said he was not backing any of the contenders in the leadership race, but close allies of the Chancellor say he would like to continue at the Treasury or move to the Foreign Office if offered a place.

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

ISAs: your back-to-basics guide for 2018/19

Here’s everything you need to know to make the most of your unused ISA allowance ahead of the 5 April deadli...

A guide to Sharia savings accounts

A number of Sharia savings products have upped their game in recent months, beating more familiar competitors ...

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week

Read previous post:
BLOG: The vast majority are still puzzled by pension freedoms

When the wide ranging pension reforms were introduced in April 2015, it was claimed they would increase the choices available...

Close