Jeremy Hunt confronted by Tory MPs warning corporation tax hike will scare away business

Three former chancellors are now speaking out against the planned increase in the rate of corporation tax from 19% to 25%

February 26, 2023 7:07 pm

This week the Chancellor is understood to have a meeting scheduled with the Conservative Growth Group, allies of Liz Truss who want the Government to embrace a free-market agenda. Ranil Jayawardena, a former Cabinet minister who is one of the leaders of the Conservative Growth Group, said: “Targeted tax cuts are a powerful tool to boost economic growth. This model from Europe Economics shows that simply not increasing corporation tax from 19 per cent to 25 per cent would create jobs, encourage investment and help pay for itself.

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