Budget 2012: Osborne hails "sustained" corporate tax rate cuts

THE Chancellor of the Exchequer promised "a tax system that is more competitive for business than any other major economy in the world" as he announced a 1% cut in corporation tax from next month to 24%.

A planned programme of cuts is also set to continue, meaning the corporation tax rate will fall to 22% by 2014.

The Chancellor said that the cuts represented "the biggest sustained reduction in business tax rates for a generation".

He added that the proposed cuts meant the UK corporate tax rate "is ... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...