UK foreign minister fails to reaffirm corporation tax plan

Posted on October 13, 2022Comments Off on UK foreign minister fails to reaffirm corporation tax plan

© Reuters. FILE PHOTO: British Secretary of State for Foreign, Commonwealth and Development Affairs James Cleverly speaks during Britain’s Conservative Party’s annual conference, in Birmingham, Britain, October 4, 2022. REUTERS/Toby Melville

LONDON (Reuters) – Britain’s Foreign Secretary James Cleverly did not confirm that the government would go ahead with a plan to keep corporation tax at its current level when he was asked on Thursday if the government would reverse course on its economic policies.

Asked if the government would reverse its announcement last month to keep corporation tax at 19% and not raise it as had been previously planned, he told Sky News the finance minister would soon set out the full fiscal plan and that it was right to support businesses so they can remain competitive.

“The chancellor will come to the despatch box,” he said. “I think it’s absolutely right that we’ve made it clear that we want to invest in businesses.”

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