Cutting corporation tax, pension fears and uninsured drivers

The Chancellor has floated a plan to cut corporation tax to encourage businesses to continue investing in the UK following the Brexit vote. In an interview with the Financial Times, George Osborne said he would reduce the rate to below 15 per cent. The current rate is 20 per cent rate. A new low rate would give the UK the lowest corporation tax of any major economy. ‘We must focus on the horizon and the journey ahead and make the most of the hand we’ve been dealt,’ Osborne told the FT. But former World Trade Organization chief Pascal Lamy said the Chancellor had to consider what the European Union would think. He told the BBC the plan would be seen as, in effect, the start of Brexit negotiations, and starting with tax was not the right way to go about it. Pensions

Pensions Minister Ros Altmann says there is a ‘delicate balancing act’ to maintain the strength of pension schemes amid the uncertainty of Brexit, according to the BBC.