The Sunday Express, November 20
…
The Government is facing calls to abandon the planned increase in corporation tax from 19 percent to 25 percent from April.
A report from the Centre for Brexit Policy warns the rise will act to reduce foreign investment in the UK. It claims the Republic of Ireland’s 12.5 percent corporation tax rate has been key to the nation becoming a powerhouse of the pharmaceutical industry.
Former Brexit minister David Jones said this means businesses are more attracted to setting up across the Irish Sea.
“This report underlines what we already suspected: that stable, low-tax environments are most likely to attract inward investment. Ireland has a corporation tax rate of 12.5 percent. The UK’s rate is dounight.
It is small wonder, therefore, that international pharmaceutical companies are choosing Ireland, rather than Britain, as their centre of operations.”
The deputy chairman of the European Research Group added: “If the Government really is serious about growth, it must learn the lesson that low-tax economies are the most successful.”
…
Click here to read the article in full.
Click here to read the report.