British PM promise to reduce corporate tax below 15% to woo investors

British Prime Minister, Mrs Theresa May while delivering her foremost to a CBI seminar made a £2bn investment in science and research, and said will grant tax breaks for innovators. The PM went further to state that the Treasury is planning to launch a review to enable them make more cuts in corporate tax, as well as increasing tax credits for research and development (R & D).

It was observed that the Mrs May’s speech at the conference juxtaposed some of the  earlier attacks she made on business as she said: "We believe in business - the entrepreneurs and the innovators who employ millions of people up and down this country."

One exciting news about her speech was when she promised to reduce corporate tax far lower that 15% which was promised by her US counterpart, President-elect Donald Trump.

According to May: "We will also review the support we give innovative firms through the tax system... because my aim is not simply for the UK to have the lowest corporate tax rate in the G20, but also one that is profoundly pro-innovation."

Nevertheless, Jeremy Corbyn was set to announce to the CBI that a government headed by Labour, would focuse on re-creating Harold Wilson’s "white heat of technology" of the 1960s.

The PM is being called by the leadership of the strongly pro-EU CBI for a "smooth Brexit", with the UK remaining in the single market to avoid businesses falling off a "cliff edge".

In her speech, Mrs May promised an ambitious modern industrial strategy, with a new way of thinking for government and new approach.

"It is about government stepping up, not stepping back, building on our strengths, and helping Britain overcome the long-standing challenges in our economy that have held us back for too long," she said.

"It is about making the most of the historic opportunity we now have to signal an important, determined change.

"It is not about propping up failing industries or picking winners, but creating the conditions where winners can emerge and grow.

"It is about backing those winners all the way, to encourage them to invest in the long-term future of Britain. And about delivering jobs and economic growth to every community and corner of the country."