Chancellor of the Exchequer George Osborne announced an additional cut in the rate of Britain's corporation tax in a bid to spur economic growth.
The tax will be charged at 21 percent from April 2014, which Osborne said will be the lowest rate of company tax in any major western economy. He previously planned to cut it to 22 percent in 2014.
"I want Britain to have the most competitive business tax regime of any economy in the world," Osborne told lawmakers as he delivered his Autumn Statement to Parliament in London. "This is an advert for our economy that says, 'Come here, invest here, create jobs here, Britain is open for business.'"
Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.
Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
- Informative weekly newsletter featuring news, analysis, real-world case studies, and other critical content
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
