It leaves her with little space to manoeuvre in this month’s Budget, having already promised not to raise income tax, VAT, or employee contributions on national insurance. And it will increase speculation that she will try to fill a £25bn gap in her spending commitments by raising wealth taxes such as capital gains and inheritance, or employer national insurance contributions.
The corporation tax announcement came as she and Sir Keir Starmer led the charge to bring in billions in investment and attempted to calm fears about the Budget on 30 October and the recent row over workers’ rights while drawing a line under the “pain of Brexit”.
The summit saw DP World restore its plans for a £1bn investment in the London Gateway port expansion project after withdrawing over the weekend. Other announcements included:
A £1.1bn investment by Manchester Airports Group to expand Stansted
£6.3bn worth of investment in data centres by CyrusOne, ServiceNow, cloudHQ and CoreWeave
Ports operator ABP committing more than £200m to a joint investment with Stena Line for a new freight terminal at Immingham
A £150m investment by Imperial College London in a new research and development campus
Confirmation of £24bn worth of clean energy investment, which was signalled last week in the build-up to the summit
As both the prime minister and the chancellor pledged that the EU reset would amount to a reset with business, too, they came under pressure again from Labour London mayor Sadiq Khan, speaking at the International Investment Summit at the Guildhall in the City of London, to consider rejoining the single market.
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Who Cares Who Has The Elgin Marbles? Let Them Go On Loan
After a series of "private meetings" between the UK and Greece this week, prime ministers Keir Starmer and Kyriakos Mitsotakis were to meet in London yesterday to discuss the future of the Elgin marbles.
Trump's Tariffs Would 'Hit UK Trade As Hard As Brexit'
Donald Trump’s threatened tariffs could hit UK trade with the US as badly as Brexit affected trade with the EU, a leading think tank has warned as campaigners call for Sir Keir Starmer to protect the UK by urgently rebuilding ties with Europe.
Taliban Bars Women From Being Trained As Midwives
Women in Afghanistan have been banned from training to become midwives in the latest crackdown unveiled by the Taliban.
South Korean Leader Calls Off Martial Law After Uproar
MPs vote against decree as violent protests outside National Assembly turn to celebration following reversal by president
EU Or The US? Starmer Has No Choice But To Pick A Side
The prime minister opened his Mansion House speech on foreign policy with another of his over-emphatic declarations.
Brexit Deals A £3bn-A-Year Blow To UK Food Exports
British food sales to the EU have fallen by almost a fifth since the end of the Brexit transition period, a new report shows
Biden Criticised Across The Board For Pardoning His Son
President’s decision slated by Republicans and Democrats
Why 8 hours is a myth and other athletes' sleep secrets
Performance coach Greg Meehan tells Alex Pattle how he keeps clients, including boxers and footballers, in top shape
Women like me won't stand for this treatment any more
When I woke up to MasterChef’s Gregg Wallace blaming midlife, middle-class women and their lack of a sense of humour for his troubles, I confess to swearing at my phone.
The BBC's Wallace problem goes beyond MasterChef
Is the fate of a television cookery presenter more important than Syrian insurgents seizing Aleppo and the turmoil on the streets in Georgia? The BBC thinks so, based on its news judgements in recent days, which have seen exhaustive coverage of the accusations against Gregg Wallace take precedence over matters of life and death around the world.
