We need a Budget to boost business
WITH corporation tax set to rise from 19 per cent to 25 per cent in April, the theory is that the treasury will receive more tax revenue. But will this be the reality or could it be disastrous for the country?
We must attract businesses, big and small, to come to Britain and pay their taxes here — which was one of the main promises of Brexit. however, with an increase in corporation tax there is a risk that some firms will move to a country with far lower rates.
For instance, Google is registered in Ireland, where corporation tax is 15 per cent, while online betting firms are registered in Gibraltar or the Channel Islands, where tax rates are low. Surely it’s far better to have thousands of companies paying 19 per cent than a handful paying 25 per cent?
EDWARD KYNASTON, Lydney, Glos.
IRELAND siphoned numerous companies from Britain by having a 12.5 per cent corporation tax rate until pressure grew within the European Union for its members to have a minimum rate of 15 per cent. to take advantage of not being in the EU, Jeremy hunt should reduce corporation tax to 12.5 per cent, not raise it to 25 per cent. the initial loss of revenue would soon be compensated by lots of companies moving here.
CHRIS KING, Chichester, W. Sussex.
IT APPEARS that everything in Chancellor Jeremy hunt’s proposed Budget is designed to stop the growth of British business and force foreign investment to go elsewhere.
PAUL MORLEY, Skipton, N. Yorks.
AN INCREASE in corporation tax will halt growth and deter overseas investors and companies from doing business here. It’s the perfect recipe for economic disaster.
GORDON MORRIS, Southwick, Wilts.
THE Government of high taxation is about to clobber people who invest in companies, as well as business itself, by increasing dividend and corporation taxes. It’s no wonder that the high-tech firm Arm decided to list on the New York stock exchange.
ARTHUR YOUNG, Paignton, Devon.
INCREASING petrol duty in the Budget will really motivate workers to get back to the office — not!
TONY THOMPSON, Banbury, Oxon.
AT LEAST former PM Liz truss and Kwasi Kwarteng had the right idea: boost the economy and profit from the rewards.
J. FISHER, Kenley, Surrey.