Business

UK’s Growth Plan Is Dead As Sunak Pivots Toward Spending Cuts

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As chancellor in March, Sunak signaled that his flagship growth policy would be a major new tax relief to boost business investment. He can no longer afford it, according to one government official, who asked not to be named because budget discussions are still ongoing. That will mean the UK’s corporation tax rate rises to 25%, the most in a decade, from 19%, with little offsetting incentive for companies to invest. 



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