British Prime Minister Boris Johnson puts on hold further cuts in corporation tax. More here:
LONDON - British Prime Minister Boris Johnson said on Monday he was putting on hold further cuts in corporation tax and told voters he would use the money for spending on health and other priorities.
“This saves 6 billion pounds that we can put into the priorities of the British people, including the NHS .” Johnson, who called the election to try to secure a majority in parliament that would back his plan for Britain’s departure from the European Union, said on Monday he would keep Javid as his finance minister if their Conservatives win the election. British media have reported tensions between the teams of the two most powerful men in the government.The postponed corporation tax cuts received a cautious welcome from the CBI’s director-general.
“Taxation is going to change under Labour. We’ve made no secret of that. We’ve been very, very clear that the richest 5% will pay more,” Corbyn told the CBI after Johnson spoke. In 2010, the corporation tax rate stood at 28%. Before the 2017 election, Labour said it would raise the rate to 26%.
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