Sat. Nov 28th, 2020

Boris Johnson to shelve planned cut in corporation tax

CBI told cancelling proposed reduction would save £6bn that could be spent on public services

Boris Johnson has told business leaders he will shelve a planned cut in corporation tax, claiming he would put £6bn into public services instead.

The prime minister used a speech at the CBI conference to say corporation tax will not be cut from 19% to 17%, and issued a plea for business leaders to show understanding about his priorities.

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