Wednesday 19 June 2019

Cameron is urged to slash corporation tax

AN influential UK think tank has urged the British government to slash corporation tax to 10pc - which would be 2.5pc lower than Ireland's level.

The Centre for Policy Studies has urged Prime Minister David Cameron to cut corporation tax to as little as 10pc because it is the "only source of a viable economic recovery".

In last year's budget, George Osborne, Britain's chancellor of the Exchequer, pledged to cut the main rate of corporation tax to 23pc from the current 26pc by 2014.

But Tim Knox, director of the Centre for Policy Studies, said that profitable businesses are the only source of a viable economic recovery and pressed the chancellor to go further.

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