Priti Patel who left the Cabinet when Boris Johnson stepped down, said “now is not the time” for an increase in the tax, which targets the profits of businesses
and risk a repeat of the mistakes of Liz Truss.
Mr Sunak, announcing the deal in October 2021 when Ms Patel was home secretary, said it would lead to a “fairer tax system, where large global players pay their fair share wherever they do business”.Ms Patel said: “It is not too late for the Chancellor to back business and end the current political obsession of regulation, high taxes and interference with business.
Under the government’s plans, corporation tax is set to increase from 19 to 25 per cent from April for firms making more than £250,000 profit, around 10 per cent of actively trading companies.Mr Hunt is due to give his spring Budget on 15 March – a day being targeted by transport and civil service unions for strikes as part of long-running public sector rows over pay and working conditions.
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