Corporation tax cut a 'bribe to big business'

Caroline has accused the Government of trying to 'bribe big business' with a planned cut in Corporation Tax

She noted that Britain already has one of the lowest corporation tax rates in the developed world [1] and she warned against the Government using Brexit as cover for turning 'Britain into a tax haven for corporations'.

Caroline said:

"The Government is right to be concerned about whether or not Britain is open for business but using economic turmoil as cover for pursuing a race to the bottom on corporation tax is irresponsible. Leaving the EU must not be used as an excuse to make Britain into a tax haven for corporations. Britain already has one the lowest corporation tax rates of richer nations and, whilst George Osborne won't be happy until big business is getting away with paying almost no tax on their profits, he should be more concerned with sharing the country’s wealth more equally.

"Reducing tax receipts yet further means less money available for our economy as a whole. That means less to spend on hospitals and schools and less to invest in the communities that have repeatedly been left behind. Osborne has learnt nothing from the last few weeks if he thinks building a resilient economy can be done by bribing big businesses."


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