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Britain plans to cut corporate tax to under 15%: report

The June 23 vote to leave the EU sent the value of the British pound tumbling against the dollar and rocked financial marketsBritish finance minister George Osborne plans to slash corporation tax to under 15 percent to tempt businesses to stay following the country’s shock vote to leave the European Union, the Financial Times reported on Sunday. Osborne plans to create a what he called a super-competitive economy, cutting corporation tax by over five percentage points from 20 percent currently to the lowest for any major economy, it said. “We must focus on the horizon and the journey ahead and make the most of the hand we’ve been dealt,” Osborne told the newspaper.

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