Wednesday 26 July 2017

Why can we not raise corporation tax rate?

Why can we not have a logical and calm discussion about the merits or otherwise of raising our corporation tax rate by a marginal amount? A strong reaction of 'ABSOLUTELY NOT!' dominates suggestions from abroad to increase our corporation tax.

I defend our sovereign right to decide whether we should raise, lower or keep our corporation tax rate at 12.5pc. But I do not agree that it is sensible to leave it out of discussion and debate in our current circumstances. Increasing it by half a per cent would still leave us below most countries in Europe.

A mass exodus of multinationals would be unlikely.

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