Labour will not hike corporation tax, vows Rachel Reeves
Labour will not hike the rate of corporation tax during its first term, shadow chancellor Rachel Reeves said as she promised to be “pro-business”.
Ms Reeves said on Thursday that the current 25% level “strikes the correct balance” but hinted that she could even cut it if the UK’s “competitiveness comes under threat”.
She made the announcement at the party’s business conference in central London, as she promised a room of 400 bosses “stability” under a Labour government after years of political drama in Westminster.
The event executives ahead of the next election, with Ms Reeves introduced on Thursday by the boss of HSBC’s innovation banking arm before taking part in a Q&A with chief executive Amanda Blanc.
