February 17 2023
The Centre for Brexit Policy urges the Prime Minister to reconsider the Government’s plans to increase corporation tax from 19 per cent to 25 per cent. The CBP warned that if the increase proceeds, potential new jobs and higher national output will be lost and your commendable ambition of transforming Britain into a ‘science superpower’ will be undermined. Levelling up hopes will be hit hard.
The letter points to the announcement by AstraZeneca that it will be investing £320 million in the Republic of
Ireland rather than in the North of England because UK corporation tax rates are too high.
Click here to read the letter in full.