Bloomberg Tax
Sept. 20, 2022, 11:48 AM

Truss Told Cutting Corporation Tax Won’t Boost UK Investment

Andrew Atkinson
Andrew Atkinson
Bloomberg News

Cutting levies on company profits is no remedy for Britain’s poor investment performance, Prime Minister Liz Truss’s government was warned as it prepares to announce tens of billions of pounds of tax giveaways.

Private-sector firms in the UK invest less than in any other Group of Seven country, despite the headline rate of corporation tax falling sharply over the past 15 years, the Institute for Public Policy Research said.

The warning comes days before Chancellor Kwasi Kwarteng is expected to set out about £30 billion ($34 billion) of tax cuts promised by Truss during her campaign to succeed Boris ...