Encouraged by positive response to its inheritance tax plans, the Conservatives plans to announce tax cuts as part of its election agenda, starting with business taxation.
George Osborne, shadow chancellor, told the Daily Mail he planned to announce proposals to cut corporation tax in the New Year.
Osborne said he would ‘approach each budget thinking how I can reduce taxes; how can I prepare Britain's economy to compete with China in the world economy’.
He slammed chancellor Alistair Darling's planned changes to capital gains tax as ‘a mess’ which would have to be reformed.
Further reading:
Capital allowances legislation to hit business
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