Pledges from PM

Corporation tax cut axed as Johnson backs overseas talent

Boris Johnson: ‘priorities’

Boris Johnson today said a Conservative government would postpone a planned cut in corporation tax which had been due to fall from 19% to 17% next year.

Mr Johnson, addressing the CBI annual conference, said the funds saved would be diverted into front line services.

“Let me remind you that this saves £6bn that we can put into the priorities of the British people including the NHS and we have already cut it from 28% to 19%,” he said.

He reminded delegates that Britain would still have the lowest corporation tax of any major economy and warned that Labour leader Jeremy Corbyn would “whack it straight back up to the highest levels in Europe”.

On the prospects for securing a Brexit agreement, he said: “We’re off to a flying start – I see absolutely no reason why we should not get it done in the time available.”

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