‘We are copying Ireland’ – UK’s tax cut to boost FDI
Cutting the UK’s corporation tax rate to 15pc would boost foreign investment there by almost 11pc and reverse any declines suffered as a result of Brexit, a think tank has said.
Chancellor George Osborne has unveiled plans to aggressively cut the country’s corporate tax to less than 15pc to woo businesses deterred by Brexit. That will place it in direct competition with Ireland in terms of foreign direct investment.
It would take Britain close to the 12.5pc corporation tax rate in Ireland, which has been a cornerstone of our economy and helped attract major employers, including Apple, Pfizer and Google.