Talking on the Planet Normal podcast, former prime minister warns that UK is relying on subsidies to tempt firms put off by excessive taxes
Liz Truss has said corporation tax should be cut to below 19 per cent to make Britain a more attractive base for big business.
The former prime minister said she would like to see the levy cut from 25 per cent to 19 per cent – or “indeed lower” – as she warned that the UK is relying on subsidies to tempt firms put off by excessive taxes.
Slashing the rate below 19 per cent would go further than Ms Truss’s pledge to keep a lid on the tax when she was in No10.
She had promised to scrap former chancellor Rishi Sunak’s plans for a six point rise, from 19 per cent to 25 per cent, but made a U-turn in the face of the market turmoil that followed her ill-fated mini-Budget.