March 20, 2013 / 1:33 PM / 5 years ago

Osborne says UK corporation tax to fall to 20 percent in 2015

Britain's Chancellor of the Exchequer George Osborne (2nd L) and his treasury team (3rd L - R) Chief Secretary to the Treasury Danny Alexander, Commercial Secretary to the Treasury Paul Deighton and Financial Secretary to the Treasury Greg Clark, prepare to leave number 11 Downing Street in central London March 20, 2013. REUTERS/Stefan Rousseau/Pool

LONDON (Reuters) - Britain will cut the main rate of corporation tax to 20 percent from April 2015 to try to boost investment and create jobs, finance minister George Osborne said on Wednesday.

“Britain will have a 20 per cent rate of corporation tax - the lowest business tax of any major economy in the world,” he told parliament in his budget statement. “That’s a tax cut for jobs and growth.”

Corporation tax is already due to fall to 21 percent in 2014.

Reporting by Peter Griffiths; Editing by Guy Faulconbridge

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