Jeremy Hunt must not hike corporation tax – it’ll drive foreign firms away

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Don’t hike tax

FIRST the good news.

It looks like there will be positives for Sun readers in Jeremy Hunt’s Budget today.

Jeremy Hunt must not hike corporation tax - it'll drive foreign firms away Britain

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Jeremy Hunt must not hike corporation tax – it’ll drive foreign firms away BritainCredit: Reuters

The Chancellor looks likely to freeze fuel duty again.

That would be a ­triumph for our Keep It Down campaign and a huge relief for all drivers.

A firm commitment to a Pumpwatch price regulator would be the icing on the cake.

We like the sound too of the big increase in what workers can save into pensions before facing punitive taxes.

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It is true that mostly only affects well-off professionals in their 50s and 60s.

But if, for example, it keeps veteran doctors working and investing instead of retiring early, it will benefit everyone.

Besides, saving should never be ­discouraged by the tax system.

All that aside, Mr Hunt’s adamant refusal to reverse the sharp rise in ­corporation tax first announced by Rishi Sunak in 2021 is bad news.

Maybe No10 and No11 are right and everyone else wrong.

But what is far more likely is that, out of desperation to balance the post-Covid books, they will destroy Brexit Britain’s competitive advantage as a low-tax base for foreign firms employing huge numbers of Brits.

Another six per cent blow to their profits will drive them away.

Even the threat of it has already done so.

That spells bad news for jobs and is a bizarre move in a “back to work” Budget.

And do not kid yourself you will be immune to this tax raid on big businesses.

They will recoup lost income from customers via higher prices.

With inflation still rampant and the Government desperate for it to fall, why would a Chancellor risk a tax rise all but guaranteed to make it worse?

Jails anarchy

WHAT a damning indictment of our probation service and prisons that four in ten lags are back in jail within a month of release.

We have repeatedly criticised probation panels’ gullibility in letting prisoners loose before they are ready.

Gary Glitter is very far from a lone case.

But what does it say too about our failing, cesspit prisons?

They are meant to rehabilitate as well as punish.

The vast numbers recalled, and the tiny percentage finding work and going straight on release, show how broken the system is.

Broken China

IT is truly laughable for China to accuse Britain, the US and the Aussies of harming world peace with our nuclear subs deal.

Is Bejing hoping no one noticed it limbering up to invade Taiwan?

Or its No1 ally Russia butchering Ukraine?

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Our weapons are defensive.

Only the craziest cranks claim Russia is defending itself against Ukrainian or Nato aggression . . . or that China fears Taiwan





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