Davos 2024
Rachel Reeves Indicates Labour Wouldn’t Hike UK Corporation Tax
- Britain’s shadow chancellor to meet business chiefs in Davos
- Polling shows Labour is on course to form next UK government
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Shadow Chancellor Rachel Reeves indicated she won’t hike taxes on company profits in Britain if Labour wins the next general election, part of a pro-business push as her party seeks to win over voters and investors ahead of an election expected this year.
“The corporation tax is at a competitive level,” Reeves said in a Bloomberg interview in Davos on Wednesday, when asked if she would rule out raising it. “I’m here in Davos to say to business that with a Labour government we would be not just open to business but actively encouraging investment and wealth creation in Britain and making the argument that Labour today are the party of wealth creation, and we wouldn’t do anything with tax to deter that investment.”