Pound rises on Brexit deal optimism – business live
- Boris Johnson: Corporation tax cut shelved
- CBI sees danger from left and right
- Stock markets mixed as investors await further news on trade
1.36pm GMT
Ben Chu, economics editor at Newsnight, has tweeted a chart showing estimates by the Institute for Fiscal Studies that the planned corporation tax cut (now shelved) would cost £6.8bn a year between 2020 and 2022.
…note that the @TheIFS estimated in 2017 that the cuts at since 2010 (28% to to 19%) had cost around £10bn…https://t.co/RvaU58Kc04 pic.twitter.com/O1LNZ9I8b7
1.26pm GMT
Jonathan Portes, professor of economics at King’s College London, tweets about Boris Johnson’s abandonment of the planned cut in corporation tax:
Less than 6 months ago Johnson stated unequivocally that cuts in corporation tax *always* raised more revenue.
(I think he was wrong then, right now. Others may differ. But either way this is treating the British public/electorate with utter contempt). https://t.co/Eb2Im1fhxP
Editor
