British Chancellor of the Exchequer Jeremy Hunt talks to a television crew outside the BBC headquarters in London, Britain November 18, 2022. REUTERS/Henry Nicholls//File Photo/File Photo
March 11 - British finance minister Jeremy Hunt will hand businesses a three-year tax break worth 11 billion pounds by replacing the UK's investment allowance with a temporary measure in next week's budget, Bloomberg NewsHunt will limit the relief to three years and propose a permanent replacement in the ruling Conservative Party's manifesto before the next election, the report said.
Under this replacement full-expensing regime, companies will continue to save 25 pence on their tax bill for every 1 pound invested, the report said. A previously announced increase in the headline rate of corporation tax, to 25% from 19%, is due to come into force in April. "For the manufacturing industry... those capital allowances work, so I would say, we do want to bring down our effective corporation tax, the total amount people pay," Hunt
earlier today in a GB News interview, referring to measures which allow companies to offset capital expenditure against their tax bill.
Jeremy hunt is a failure at everything he does, but he has dirt on a few Tories. these tax breaks will be directly influenced on his wealth.
Always business - never people: that’s the Tories
Just realised he reminds me of Glen Roeder
It's so strange that the left ignores the fact that business tax cut directly improve workers lives by freeing up the companies to hire more and raise wages without government mandating it.
The UK can’t afford this currently.
Lol, the fastlane to bankruptcy.
Not, of course, to rush into anything...
Good for them, Cutting taxes boosts the economy CutTaxes
Get the rich and multinationals to pay their tax would be even better
Fine but we need to redistribute the profits from businesses that are profiteering - oil&gas, power companies - not give them even more tax breaks - unbelievably he's given this interview to fringe channel GB News which has virtually no viewers