The Independent, February 19
Rishi Sunak is facing rebellion from a coalition of Conservative MPs over the corporation tax rise coming in April.
The leaders of several backbench Tory factions have written to the prime minister to urge him to “abandon” his plan to hike the tax from 19 to 25 per cent ahead of the March Budget.
Liz Truss backer Simon Clarke, who is chair of the new tax-cut-supporting Conservative Growth Group (CGG), Sir Jake Berry, founder of the Northern Research Group, and Mark Francois, the European Research Group chair, have all demanded a rethink.
Greg Smith and John Redwood, leaders of the Thatcherite groups Conservative Way Forward and No Turning Back, also signed the letter, warning that a tax rise could hit investment and jobs.
The letter stated: “We are writing to urge you to reconsider the government’s plans to increase corporation tax from 19 per cent to 25 per cent in April this year.”
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Click here to read the letter.