“An opportunity has been missed in not reducing corporation tax any further…”

by | Nov 23, 2016

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Robert Gordon, CEO at Hitachi Capital:

“An opportunity has been missed in not reducing corporation tax any further in today’s Autumn Statement. Keeping the current rate to 17% by 2020 is an admirable target but it should have been lowered further to ensure a significant boost for companies and a reminder that Britain is open for business following the Brexit result. Our recent research with the CEBR revealed that nearly half (42%) of large British companies have cancelled or postponed investment plans due to Brexit, so a further cut in corporation tax could have been a step in the right direction by the new Chancellor.

“Now more than ever British businesses have to compete on a global stage for new trade opportunities and to secure investment, therefore it is only right that the taxes they pay reflect this new landscape.”

 

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