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Almost one in three bosses pessimistic Labour will hike corporation tax


Almost one in three bosses are pessimistic Labour will hike corporation tax.

In a survey of company leaders, 29 per cent said they believed the profit levy was the most likely to be increased over the next five years. 

Keir Starmer’s government has insisted it will cap the rate for the duration of this Parliament.

But the poll of 500 bosses from consultancy BDO revealed wariness towards this pledge. 

The headline rate of corporation tax was raised to 25 per cent in April 2023.

Pessimistic: In a survey of company leaders, 29 per cent said they believed the profit levy was the most likely to be increased over the next five years

Pessimistic: In a survey of company leaders, 29 per cent said they believed the profit levy was the most likely to be increased over the next five years

And 27 per cent said they expect energy profits and electricity generator levies will be upped. 

The last government imposed a windfall tax on UK energy company profits after Russia’s invasion of Ukraine sent oil and gas prices soaring.

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