Monday, 4 July 2016

Corporation Tax Cut in the Offing


George Osborne, Chancellor, has given his approval to a Corporation Tax cut, down to 15%. This will help business investors and small businesses as well as the larger corporates.  He said he was aiming for the U.K. to have the lowest corporation tax rate in Europe.He added that although he was on the remain side during the referendum, now is not the time for regrets, but a golden opportunity for the U.K. to forge ahead and negotiate trade deals around the world.

Boris Johnson is urging the government to come up with a plan to move Brexit forward. The lack of a coherent plan so far has been the cause of the hysterical reaction from the remainers, he thinks. Maybe the government didn't have a plan. So many people were sure that the vote would be to stay IN the E.U. that it must have come as a big shock when the majority of voters wanted OUT.

Phillip Hammond, Foreign Secretary, thinks that an Act of Parliament could bring about our exit from the E.U. by Christmas and that invoking Article 50 too soon could well be illegal.

Putin, Russian leader, has compared the E.U. to a 'leaking balloon', slowly but surely losing credibility on the world stage. At least he has kept out of it so far!

Interestingly, all five of the prospective Conservative Party leadership candidates, were born in Scotland!

Andrea Leadsom's supposed lack of experience in government (she has been a junior minister for two years) may hold her back in the leadership campaign. However, she has vast experience in banking and financial services and we know she was firmly on the LEAVE side during the referendum.

Tomorrow the Members of Parliament must vote for the first time on who they want to be their new leader. One must then drop out. Each week the vote will eliminate another candidate until we have a clear leader. Boris Johnson has stated that Michael Gove would not be a good leader because he has a tendency to gossip and this could endanger the security of the country.

Just when I thought that would be the end of this morning's news - I've just heard that Nigel Farage has decided to step down from his post as leader of UKIP (U.K. Independence Party).

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