UK scraps corporate tax hike, lifts cap on banker bonuses

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The British government is scrapping a corporate tax hike and lifting the cap on bankers bonuses in a bid to boost a faltering economy Treasury chief kwasi Kwame has told lawmakers there are too many barriers for enterprise as he puts lower taxes top of the government's agenda In his mini budget that he was reversing a hike in national insurance taxes that was introduced by the previous government to help pay for health and social care He said the basic rate of income tax will fall from 20 to 19% next year The top rate will go from 45 to 40% in the House of Commons kwa Tang said we need a new approach for a new era focused on growth

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