Corporation Tax Rise Leaves UK Among Least Competitive in OECD

Britain will rank among the least competitive industrial nations on corporation tax policy after Chancellor of the Exchequer Jeremy Hunt decided to raise the levy from April 2023, the Center for Policy Studies said.

The research group said the decision announced this week will relegate the UK to 33rd among the 38 nations ranked by the Organization for Economic Cooperation & Development. The UK is currently 26th with a corporation tax of 19% set to increase to 25% next year.

The findings underscore the risk to the economy from Hunt’s decision to scrap most of the tax cuts in Prime ...