Tue. Sep 29th, 2020

Pound rises on Brexit deal optimism – business live

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

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