{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-c03aa079.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-517835be.css\" media=\"all\" /\u003e\n\u003cdiv data-title='UK finance minister wants post Brexit business tax cut' data-url='/boclips/videos/6878f859859c693875d0f68b' data-video-url='/boclips/videos/6878f859859c693875d0f68b' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nUK finance minister wants post Brexit business tax cut\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003ePost Brexit, Britain has announced plans to cut business tax from the current 20 percent to less than 15.  The hope is to keep companies in the UK and woo those put off by the vote to leave the European Union, but it could also lead to...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003ePost Brexit, Britain has announced plans to cut business tax from the current 20 percent to less than 15. \u003cbr/\u003e\u003cbr/\u003e The hope is to keep companies in the UK and woo those put off by the vote to leave the European Union, but it could also lead to competitive tax cuts across the EU. \u003cbr/\u003e\u003cbr/\u003e Finance minister George Osborne said he wants to build a “super competitive economy” and “sell Britain to the world” but did not reveal when corporation tax – which  accounts for about seven percent of British tax revenues – might be cut.\u003cbr/\u003e\u003cbr/\u003e  Britain open for business: lower business taxes, support for bank lending, infrastructure investment, more trade with China + rest of world— George Osborne (@George_Osborne) July 4, 2016\u003cbr/\u003e\u003cbr/\u003e Osborne’s previous target was to cut corporation tax to 17 percent by 2020. The UK’s 20 percent rate compares with an average of 25 percent among most developed economies.\u003cbr/\u003e\u003cbr/\u003e Market Analyst Michael Hewson with CMC Markets warned he will have to do more: “I think Mr Osborne needs to think more broadly in terms of not only corporation tax cuts but also reviewing business rates. Business rates remain a significant cost to smaller and bigger UK businesses. And he also I think needs to look at potential future infrastructure spending.” \u003cbr/\u003e\u003cbr/\u003e Illustrating the concerns, and effects of the Brexit, a new survey shows Britain’s construction industry suffered its worst contraction in seven years in June in the run-up to the referendum vote.\u003cbr/\u003e\u003cbr/\u003e  Good morning from London. Most read right now: Brexit: George Osborne to slash corporate tax \u003ca href='https://t.co/EudxSUDCRn' target='_blank' rel='nofollow'\u003erate\u003c/a\u003e— Financial Times (@FT) July 4, 2016\u003cbr/\u003e\u003cbr/\u003e Ireland, Netherlands, Greens react\u003cbr/\u003e\u003cbr/\u003e Osborne’s tax cut plan – which he announced in an interview with the Financial Times – did not go down well in Ireland. Dublin has attracted corporate giants like Apple and Pfizer with 12.5 percent corporation tax.\u003cbr/\u003e\u003cbr/\u003e Ireland’s Transport Minister Shane Ross called it an “obvious attempt“ to lure investors away. He added: “If the headline figure was to come down to 12.5 percent in the UK, it would be threatening to us and we would have to adjust accordingly and make ourselves more attractive again.”\u003cbr/\u003e\u003cbr/\u003e The Netherlands – another low tax country – said it would review its taxation rates to ensure it remained attractive. “It is something we are thinking about with an eye to the future,” finance ministry spokesman Paul van der Zanden said. “On the one side we want to fight tax avoidance and on the other we need to look at our investment climate.”\u003cbr/\u003e\u003cbr/\u003e Molly Scott Cato, a member of the European parliament for Britain’s Green Party, said Osborne was using the referendum result to accelerate already policy planned.\u003cbr/\u003e\u003cbr/\u003e “He wants to usher in an era in which the UK embarks on a race to the bottom, not just through cutting corporation tax, but also on social and environmental deregulation and even more stringent public spending cuts,” she said.\u003cbr/\u003e\u003cbr/\u003e “We need a general election so people have a chance to have their say on the sort of country we want to build together.”\u003cbr/\u003e\u003cbr/\u003e Opening salvo\u003cbr/\u003e\u003cbr/\u003e Some took Osborne’s announcement as the opening salvo in future negotiations between London and Brussels.\u003cbr/\u003e\u003cbr/\u003e Pascal Lamy, a former World Trade Organisation head, said Osborne was moving fast to activate one of Britain’s weapons in the talks as well as trying to reassure foreign investors who are worried about Britain’s access to the EU’s single market.\u003cbr/\u003e\u003cbr/\u003e “I can understand that from his side but he has to think about the impact of this on the continent,” Lamy told BBC radio.\u003cbr/\u003e\u003cbr/\u003e “I am quite convinced that at the end of the day, if you want a proper balanced, win-win relationship in the future, starting with tax competition is not the right way psychologically to prepare this negotiation.”\u003cbr/\u003e\u003cbr/\u003e  George Osborne’s corporate tax cut goal: calm business, scare Brussels \u003ca href='https://t.co/zoTwyQ6XIn' target='_blank' rel='nofollow'\u003egfhay\u003c/a\u003e #Brexit #Tax pic.twitter.com/jvZKlR3gbv— ReutersBreakingviews (Breakingviews) July 4, 2016\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='action-container flex justify-between'\u003e\n\u003cbutton aria-expanded='false' aria-label='Read more description' class='rp-full-description' type='button'\u003e\n\u003ci class='fai fa-solid fa-align-left'\u003e\u003c/i\u003e\n\u003cspan id='read_more'\u003eRead More\u003c/span\u003e\n\u003c/button\u003e\n\u003cdiv class='rp-report'\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv aria-labelledby='resource-details-heading' class='rp-info-section'\u003e\n\u003ch2 class='title' id='resource-details-heading'\u003eResource Details\u003c/h2\u003e\n\u003cdiv class='rp-resource-details clearfix'\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eCurator Rating\u003c/dt\u003e\n\u003cdd\u003e\u003cspan class=\"star-rating\" aria-label=\"3.5 out of 5 stars\" role=\"img\"\u003e\u003ci class=\"fa-solid fa-star text-action\" aria-hidden=\"true\"\u003e\u003c/i\u003e\u003ci class=\"fa-solid fa-star text-action\" aria-hidden=\"true\"\u003e\u003c/i\u003e\u003ci class=\"fa-solid fa-star text-action\" aria-hidden=\"true\"\u003e\u003c/i\u003e\u003ci class=\"fa-solid fa-star-half-stroke text-action\" aria-hidden=\"true\"\u003e\u003c/i\u003e\u003ci class=\"fa-regular fa-star text-action\" aria-hidden=\"true\"\u003e\u003c/i\u003e\u003c/span\u003e\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt class=\"educator-rating-title\"\u003eEducator Rating\u003c/dt\u003e\u003cdd\u003e\u003cdiv class=\"educator-rating-details\" data-path=\"/educator_ratings/rrp_data?resourceable_id=91033878\u0026amp;resourceable_type=Boclips%3A%3AVideoMetadata\"\u003e\u003cspan class=\"not-yet-rated\"\u003eNot yet Rated\u003c/span\u003e\u003c/div\u003e\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eMedia Length\u003c/dt\u003e\n\u003cdd\u003e1:12\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eGrade\u003c/dt\u003e\u003cdd title=\"Grade\"\u003e9th - Higher Ed\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eSubjects\u003c/dt\u003e\u003cdd\u003e\u003cspan\u003e\u003ca href=\"/search?grade_ids%5B%5D=259\u0026amp;grade_ids%5B%5D=255\u0026amp;grade_ids%5B%5D=256\u0026amp;grade_ids%5B%5D=257\u0026amp;grade_ids%5B%5D=258\u0026amp;search_tab_id=1\u0026amp;subject_ids%5B%5D=358379\"\u003eSocial Studies \u0026amp; 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