Shadow chancellor Rachel Reeves tells business summit of measures to boost investment, productivity and certainty
Labour will not raise corporation tax above its current rate of 25% during the next parliament, the party has pledged, in an attempt to offer businesses greater certainty.
The shadow chancellor, Rachel Reeves, said the tax pledge included maintaining full expensing, which allows businesses that invest in IT equipment and machinery to claim back up to 100% of the cost of the investment by writing it off against tax on their profits. She said Labour would also maintain the annual investment allowance introduced by Jeremy Hunt.
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