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Campaign in the UK: Johnson postpones corporate tax reduction

2019-11-18T14:01:55.882Z


The British Prime Minister sets expensive promises during the election campaign - among other things, the state health system is to be expanded. In order to finance that, Johnson has to slow down elsewhere.



The promise of increased investment in the health sector was already one of Boris Johnson's top topics in the Brexit election campaign. Before the parliamentary elections on 12 December, the British Prime Minister is once again focusing on the issue - and backs up other plans. For the time being, his government will not lower corporate taxation as planned, Johnson said at a recent event by CBI, Britain's key corporate lobbying association.

"That saves us six billion pounds that we can invest in UK priorities, including the NHS," Johnson said. The NHS is the state health system of the United Kingdom. So far, a reduction of the tax was planned from 19 to 17 percent in the coming year.

Biggest increase in government spending in 15 years

With the announcement, Johnson responded to questions about funding his campaign pledges. His Finance Minister, Sajid Javid, announced in September the largest increase in government spending in 15 years, probably in response to the opposition's massive investment pledges.

Premier Johnson hopes to win a majority of his Conservative party in parliament from the new elections to say goodbye to his Brexit deal with the EU. The withdrawal period was last extended until the end of January 2020.

CBI chairperson Carolyn Fairbairn responded cautiously to the announcement. "Postponing the reduction in corporate tax to invest in the public sector could help the country do more for business and economic growth," Fairbairn said in a statement.

Source: spiegel

All news articles on 2019-11-18

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