The third Budget of the current coalition government and George Osborne is beginning to show some real mettle. The cut in the corporation tax was a clear sign of the government's general commitment to reduce the tax burden on business. It means that the UK is fast becoming the most competitive corporate tax landscape in the G20, far outstripping competitors in mainland Europe and further afield. This is critical to growth - the deficit is dragging down the economy and growth projections make grim reading. The Office for Budget Responsibility (OBR) forecast shows 0.8% growth and in the longer term, it expects growth to hit 2% in 2013, up to 2.7% in 2014.
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