Tory Treasurer hopes for 20% tax rate
Icap chief hopes Tory government would take corporation tax as low as 20%
The Tory party Treasurer has said he hopes that cuts to corporation tax would
go further than the promises already made by the Conservatives and that the 50%
income tax band would be removed.
Michael Spencer, chief executive of interdealer broker Icap, made the
comments in an interview for the Financial Times.
The Tories have already committed to a cut in corporation tax from 28% to
25%, but Spencer is reported saying that he personally hopes that the tax would
get down to 20% under a Tory government.
He said the party “cherished” the City.