The anticipated announcement that the government will scrap the planned rise in corporation tax would, in the long term, mean “Britain’s national income would rise by 1.2 per cent, investment by 2 per cent and wages by 1.1 per cent”, according to CPS figures quoted in The Times.
The figures come from recent CPS work undertaken alongside the Tax Foundation. Tom Clougherty, CPS Head of Tax, commented on the corporation tax news saying “if growth is the goal, it pays to be as bold as possible.”
Read the article here.
Date Added: Thursday 22nd September 2022