May pledges to make Britain corporate tax haven

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By Euronews
May pledges to make Britain corporate tax haven

Britain’s Prime Minister Theresa May has moved to ease business concerns over Brexit talks.

I am conscious that people don't want a "cliff-edge", they want to know with some certainty how things are going to go forward

Theresa May British Prime Minister

Speaking to the Confederation for British Industry, a leading business organisation, she said her government plans to attract more firms by lowering corporate tax rates.

“Now we want to go further and look at how we can make our support even more effective because my aim is not simply for the UK to have the lowest corporate tax rate in the G20 but also a tax system that is profoundly pro-innovation,” May said.

There was no more details of what she plans to bring or take from the Brexit negotiations but May did pledge to boost investment in research and development.

“We will commit to substantial real term increases in government investment in R+D, investing an extra 2 billion pounds a year by the end of this parliament, to help put post-Brexit Britain at the cutting edge of science and tech,” said May.

May added she understood business concerns that Britain could fall off a so-called “cliff-edge” after formal divorce talks with the European Union and said she would address those fears in Brexit talks.

May’s words seemed to be a direct response to the president of the CBI, Paul Drechsler, who said business needed certainty over Britain’s future relationship with the EU’s single market and immigration rules for “European talent”.