Help with childcare and energy costs expected in Budget Live updates
Will the government go ahead with a hike in corporation tax?
This is a tax is paid by UK companies and foreign firms with offices here. It is charged as a percentage of the profits they make.It was Rishi Sunak who announced the planned increase back in 2021 when he was chancellor and it looks likely that Jeremy Hunt will follow through on the pledge – despite pushback from some Tory MPs who think it will put companies off from investing in the UK.among G7 nations. When it rises, it will still be the lowest but only marginally.
Recently, Pascal Soriot, the boss of pharmaceutical giant AstraZeneca, said it had switched plans to build a big manufacturing plant in the North West of England to Ireland, because of the rise in corporation tax which he called “discouraging”.Article share tools
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