Companies will leave Britain to avoid the rising taxes set out in Wednesday’s budget.
The Centre for Policy Studies has said that the proposed corporation tax rise for big companies will create “one of the least competitive tax systems” and will lead to companies moving their headquarters overseas.
While smaller firms will continue to pay corporation tax at 19%, that will rise to 25% for larger companies. Because of the 8% surcharge on banks, their tax rate will rise to 33%.
