UK to draft tax cutting laws
Posted on 17 Aug 2016
Britain to draft tax cutting laws
Ministers will draft legislation enabling them to implement corporation tax cuts in ready-to-go Budgets in a move designed to show EU leaders Britain is serious about changing its economic model if Brexit negotiations don’t go to plan. A statement in the Brexit White Paper says “we will ensure that our economic and other functions can continue, including by passing legislation as necessary.” A Whitehall source said a Finance Bill would be drawn up to enact a tax cutting Budget to mitigate the effects of failing to reach a deal.
