The Daily Mail, February 19
Rishi Sunak is facing the prospect of a major Budget rebellion as the Prime Minister came under fresh pressure on tax cuts from top Tory MPs.
Seven senior Conservative backbenchers have joined with leading businessmen and economists to demand Mr Sunak reconsider hiking Corporation Tax from April.
In a letter to the PM, they warned going ahead with a planned increase in the levy will harm jobs, economic growth, the Tories‘ levelling up mission and Mr Sunak’s own aim to turn Britain into a ‘science superpower’.
It is the latest salvo from Tory MPs in a bid to convince the PM and Chancellor Jeremy Hunt to slash taxes at the upcoming Budget on 15 March.
Corporation Tax is due to rise from 19 per cent to 25 per cent from 1 April – under plans put in place by Mr Sunak when he was Chancellor – in a move that is unpopular with a large number of Tory MPs.
Former PM Liz Truss had attempted to cancel the increase in her ‘mini-Budget’ last September, but swiftly reversed her position when her fiscal package was followed by a disastrous economic meltdown.
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