Tory corporate tax-cut pause is smoke and mirrors – it’s already been cut by £60 BILLION per parliament

Boris Johnson’s campaign trick should fool no one

Boris Johnson has announced he is ‘shelving’ plans for a further cut in corporation tax from 19% to 17% – in a transparent attempt to curry favour with ordinary voters. He has even tacked on a claim that this will free funds which ‘can be’ spent on ‘priorities such as the NHS’.

Yeah right.

‘Can be’, not ‘will be’ – and don’t forget Johnson’s ‘promise‘ to ‘ban’ fracking, which didn’t even last two weeks, let alone the length of the general election campaign.

But Johnson is blowing smoke – Tory tax cuts have already enriched corporations to the tune of around £60 billion per Parliament – according to the Treasury’s own figures:

When the Tories entered office in 2010 Corporation Tax was 28%. – and they promptly entered into a series of cuts down to the current 19% to reward their corporate backers.

Even with the new pause to their promised 17% cut, the cuts the Tories have made for their pals in big corporations represent around fifteen billion pounds a year – or around £60 billion over the course of a full Parliament.

Labour will reverse Tory Corporation Tax Cuts in favour of what’s best for the many.

Vote Labour.

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4 responses to “Tory corporate tax-cut pause is smoke and mirrors – it’s already been cut by £60 BILLION per parliament

  1. I hope the public have got the message of this Tory party….Look after the corporate masters and stuff the country

  2. Jeremy’s speech to the CBI at least gave those business leaders something to think about.
    Excellent, funny quip to start, then straight down to business. Perfectly judged for business people.
    His speech was cogent, logical, concise, completely free of Johnsonite faff and flummery, as were his answers to the questions – I thought the audience looked more respectful than the Tories will have hoped for, if a little reserved in their applause.
    Expecting cheering from that lot would be deluded.

  3. Gordon Brown was always cutting Corporation Tax and other taxes on the wealthy.

    P481: “The End of the Party”

    “Andrew Rawnsley:

    “Yet Labour went on to be so indulgent of rich foreign residents that it effectively turned Britain into the world’s most popular tax haven among millionaires and billionaires. The treatment of private equity firms and some hedge funds allowed them to enjoy much lower tax rates than poorer citizens. Even those enjoying the prodigious rewards occasionally wondered why.”

  4. According to Boris Johnson the proposed Corporation tax cut that the Tories were proposing but have now postponed for one year(max) amounts to £6,000,000,000. That’s – six billion pounds i.e. SIX THOUSAND MILLION POUNDS of a tax giveaway to big business -at a time when the NHS and social care are is in crisis, millions have to rely on food banks to survive, homelessness is at an all time high and a brutal benefits system punishes the sick and disabled for being unable to work.
    I genuinely cannot see how anyone could justify the corporation tax cut in these circumstances and look forward to watching Johnson attempting to do so tomorrow night in his head to head debate with Jeremy Corbyn.

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