tax

UK cuts corporation tax but rise in minimum wage risks upsetting business

Posted on July 8, 2015 at 2:10 pm GMT

The UK Chancellor of the Exchequer George Osborne delivered his first Conservative budget since the party won the May elections with an overall majority. In his speech, the Chancellor downgraded GDP growth forecast for 2015 to 2.4% (from 2.5%) but there was no change for 2016 forecast of 2.3% and 2014 growth was revised up from 2.6% to 3.0%. The budget deficit is expected to fall to 3.7% as a proportion of GDP in 2015/16, down from 10.2% in 2010. [..]

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