The UK suffers from poor productivity and lacks investment, something Rishi Sunak’s planned tax rise aimed to address
Nadhim Zahawi’s musings on business taxes may become irrelevant at any moment, but this week’s chancellor of the exchequer arrived with an idea to kick around: delay, reform or simply cancel his predecessor’s hike in corporation tax from 19% to 25%, due to take effect from next April.
That, at least, seemed to be the meaning of Zahawi’s many references to the tax in his day-one interviews. “I know that boards around the world, when they make investment decisions, they’re long term, and the one tax they can compare globally is corporation tax,” he told Sky News.
