British Prime Minister Theresa May is learned to be announcing attractive tax cuts to Businesses post-Brexit, withdrawal of United Kingdom (UK) from European Union (EU).
Experts believe in her first speech to a CBI conference the prime minister may talk about 2 billion pounds of investment in science and research. It is also being talked she may announce tax breaks for innovators in the Chancellor’s Autumn Statement.
May may also talk about Treasury’s launch of a review into the areas where more cuts could be possible in corporation tax for increasing tax credits for research and development.
She may further go to the extent saying the corporation tax could be cut below 15 percent that has been promised by US President-elect Donald Trump in his election campaign.
May will support with tax system those businesses which are innovative as the focus is not to offer the lowest corporate tax rate in the G20 only to the UK.
The path won’t be rosy for May as she may face calls from pro-EU CBI leaders for a smooth Brexit process even though she will talk about modern industrial strategy in a new way.
The minister to add her government will be stepping up building strengths and helping the country to overcome the long-standing challenges instead of stepping back.
Earlier she had said, “t is about making the most of the historic opportunity we now have to signal an important, determined change.”
She added further the winners will be supported and encouraged to invest for long-term in Britain.