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Wed, 11 Dec 2019 14:27 GMT

Theresa May Promises to Cut Corporate Taxes After Brexit


Mohamed Zerari - 7Dnews London - AFP

Wed, 26 Sep 2018 19:58 GMT

British Prime Minister Theresa May sought to reassure business officials that Britain after Brexit would be "corporate-minded" and would have the lowest corporate tax among the G20 nations, reports AP.

In a speech to the Bloomberg International Business Forum in New York, May expressed confidence that Britain would reach an agreement with the European Union before withdrawing in March 2019. 

"Britain in the post-Brexit era will undoubtedly be British," she said, adding companies should "look forward to the post-Brexit world with confidence." 

"Whatever your business, investment in post-Brexit UK will give you the lowest corporate tax rate among the G20," which includes 20 of the world's largest economies. 

The Conservative Party, which is spearheading corporate tax cuts, has pledged from 19 percent now to 17 percent by 2020. 

Her comments come as British opposition Labor Party leader Jeremy Corbin concludes the party's annual conference with a different message. 

He warned that time was running out for a deal on Brexit and that "the companies were running out of patience" and planned to move abroad. 

"Conservative members are aware of this, but some see Brexit as their chance to impose the doctrine of free markets in Britain."