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’.
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.
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