Will Osborne's 15% Band-Aid Tax Soothe Brexit Pain?
Chancellor of the Exchequer George Osborne set a goal of lowering the corporate tax rate to 15 percent in an effort to keep businesses investing in the U.K. as it prepares to leave the European Union. Osborne, who campaigned to remain in the EU, said in an interview with the Financial Times that he accepted the result of the June 23 referendum and now wants to mitigate the economic impact. Britain currently has a 20 percent tax rate for business that’s scheduled to fall to 19 percent in April and to 17 percent in 2020. UBS Head of UK Rates Strategy John Wraith discusses with Bloomberg's Anna Edwards on "Countdown."
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