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Corporation tax is an ‘inefficient and growth-damaging’ tax David Gauke claimed in a speech to the Oxford University Centre for Business Taxation.

Gauke will chair a forum for multinational business leaders drawn from across industry to discuss ‘ways in which we can improve the competitiveness of the UK’s tax system’. He will also chair a new forum for tax professionals to oversee the new approach and ‘challenge us on whether it is having an effect on the stability of tax policy and the quality of our tax law’. OECD estimates suggested that corporation tax is ‘the most growth impeding tax followed by personal income tax and then consumption tax ’ the Exchequer Secretary to the Treasury said. ‘So the economics would...

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