Press release
11 March 2020
Zubin Patel, international tax partner at Deloitte, comments on the Budget:
“As expected, the Chancellor has scrapped the planned cut to corporation tax from 19% to 17%, raising £6bn a year. Despite this, it remains the lowest rate of corporation tax amongst the G20.
“The Chancellor is possibly keeping his powder dry until later in the year. We are likely to see a second Budget in the Autumn, by which time business leaders will be turning their attention back to Brexit, the end of the Transition Period and what happens after 31 December. By then, there may be louder calls for business relief which the Chancellor may find more difficult to ignore.”
@DeloitteUK for live comment;
@DanielFLyons1 for Daniel Lyons, Head of Tax Policy; and
@IanStewartEcon for Ian Stewart, chief economist
Experts from Deloitte are available now and on the day of the Budget for comment. On Wednesday 11 March, please call the Deloitte Media hotline on 020 7007 3333, where you will be directly connected to one of our spokespeople.
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