Emergency Budget: Corporation tax will drop to 24% by 2014

Corporation tax will reach as low as 24% by 2014 Chancellor George Osborne
has announced in his budget speech.

Osborne said he wants to bring corporation tax to “the lowest this country
has ever known.”

He said consecutive 1% decreases will bring the corporation tax rate to 24%
by 2014.

He said the drop in corporation tax will help attract international business
and make the UK more competitive.

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