Budget 2017: Corporation tax falling to 17 per cent by 2020

The Chancellor Of The Exchequer Leaves Downing Street To Present The 2017 Budget To Parliament
From April this year, corportation tax will fall to 19 per cent, (Source: Getty)

Chancellor Philip Hammond today confirmed that corporation tax will fall to 17 per cent by 2020 - the lowest in the G20.

The chancellor said "the UK needs a fair tax system" so that the UK becomes the "best place to start a business".

From April this year, corporation tax will fall to 19 per cent, Hammond said.

https://twitter.com/hmtreasury/status/839457692536172545

The Centre for Policy Studies said the move will further boost the UK’s competitiveness, but added that the Labour Party has "publicly stated they would reverse this if in government and go even further, increasing the rate to 21.5 per cent, in order to fund spending amounting to £15bn per annum".

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