Businesses Bemoaning Brexit Welcome Osborne’s Tax-Cut Proposal
- Business groups want more government to do more to cut rates
- Proposed tax cut brings U.K. closer to Ireland’s 12.5 percent
Osborn is signaling that Britain is 'open for businesses,',
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Multinational businesses may not be happy about Brexit, but U.K. Chancellor George Osborne’s proposal to slash corporate taxes to 15 percent offers small comfort in a period of uncertainty as the fallout from a vote to leave the EU weighs on prospects for doing business in Britain.
In a bid to signal that Britain is "open for businesses," Osborne said in an interview with the Financial Times that he wants to slash corporation taxes from the current 20 percent rate. Business groups say it is just one of many steps they would like to see from the government to maintain and lure investment as the U.K. negotiates its exit from the EU.