March 20, 2013 / 1:37 PM / 5 years ago

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

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, Chancellor George Osborne said on Wednesday.

Britain's Chancellor of the Exchequer, George Osborne, holds up his budget case for the cameras as he stands outside number 11 Downing Street, before delivering his budget to the House of Commons, in central London March 20, 2013. REUTERS/Stefan Wermuth

“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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