Johnson delays corporation tax cuts to help fund NHS

Speaking at the CBI conference, Prime Minister Boris Johnson has vowed to delay cuts to corporation tax to fund other ‘priorities’ like the NHS.

The move could cost the Treasury £6 billion and the cash would be better spent on the ‘nation's priority’, with Johnson instead declaring that he was going to keep the rate all firms pay on their profits at current levels indefinitely.

It is currently 19 per cent and had been due to fall to 17 per cent.

Corporation tax is paid by businesses on their profits in the UK. It's an important revenue-raiser, making up approximately nine per cent of the UK government's total tax take.

Labour leader Jeremy Corbyn has said that if Labour won the General Election he would raise corporation tax, adding that it would be no higher than 2010's rates. In 2010, the last time Labour was in power, the rates were at 28 per cent compared.

The Conservatives are committed to giving the NHS an extra £20 billion a year for day-to-day operations by 2023, and an extra £1.8 billion in capital expenditure for new buildings and IT.

Event Diary

Retail Supply Chain & Logistics Expo returns to Excel London across 12-13 November, once again bringing together the world of logistics, supply chain, eCommerce and retail innovation for two dynamic days of opportunity.

Every sport, from grassroots football to world-class tournaments, depends on one constant: high-quality playing surfaces and well-maintained green spaces.

Tickets: Free registration available at www.retailscl.com

The Retail Supply Chain & Logistics Expo is the UK’s leading event for retail supply chain and logistics professionals, showcasing the latest innovations in fulfilment, 3PL, AI-driven automation, and warehouse technology.

Supplier Profiles

Bauder Accepts Keys to its New UK Distribution Centre at Gateway 14

Bauder marked a major milestone in its UK expansion with the official handover of a brand

Words of World: Bridging language barriers with excellence

At Words of World, we specialise in professional translation and interpreting, d