The Chancellor took the opportunity to spend a great deal of time talking about the UK’s tax competitiveness but unfortunately, he failed to follow this up with any real action. Despite his comment that the UK has ‘the most competitive corporation tax regime in the G7’ and ‘a stable tax regime’, the fact is that since 2000, the UK’s corporate tax rate has fallen from the fourth most competitive in 2000 to around 20th in the enlarged EU - and has dropped from the eighth most competitive to 20th among OECD countries.
