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Boris Johnson Cancels U.K.'s 2020 Corporate Tax Cut

Nov. 18, 2019, 11:23 AM

U.K. Prime Minister Boris Johnson announced the Conservatives are canceling plans to cut corporation tax next April, saying it is the responsible thing to do. The rate was due to fall to 17% from 19%.

Johnson is giving a speech to the Confederation of British Industry to try to get the focus of his general election campaign on his Conservative Party’s pro-business policies.

“It is the fiscally responsible thing to do at the current time,” he told business leaders at the CBI conference in London.

Key Developments:

  • Johnson tells CBI he will keep Sajid Javid as finance minister after election.
  • Johnson says corporation tax cut will have to wait.
  • Labour leader Jeremy Corbyn and Liberal Democrat leader Jo Swinson will also speak to the CBI conference.
  • A Survation poll for Monday’s Good Morning Britain TV show put the Tories on 42%, Labour on 28%, the Liberal Democrats on 13% and the Brexit Party on 5%.
Boris Johnson speaks at the Confederation of British Industry conference in London, on Nov. 18.
Photographer: Jason Alden/Bloomberg

—With assistance from Greg Ritchie and Joe Stanley-Smith.

© 2019 Bloomberg L.P. All rights reserved. Used with permission.

To contact the reporters on this story:
Robert Hutton in London at rhutton1@bloomberg.net;
Joe Mayes in London at jmayes9@bloomberg.net
To contact the editors responsible for this story:
Tim Ross at tross54@bloomberg.net
Stuart Biggs