UK: PM Truss to keep increase in corporation tax, changing her previous stance

UK: PM Truss to keep increase in corporation tax, changing her previous stance

Liz Truss, UK Prime Minister: "We need to act now to reassure the markets of our fiscal discipline.

I have therefore decided to keep the increase in corporation tax that was planned by the previous government.

This will raise 18 billion pounds per year.

It will act as a down payment on our...medium term fiscal plan which will be accompanied by a forecast from the independent OBR."