One of the most welcome parts of the Budget is the reduction of Corporation Tax to 24%, with a clear target of 20% at some stage. This says that Britain welcomes business.
Secondly, the supplementary top rate of income tax falls to 45%, hopefully on the way towards 40% or lower, telling the world that Britain welcomes enterprise.
Thirdly, the threshold at which income tax is paid rises to £9,205. This is a further step towards the minimum wage level of £12,500, below which there should be no income tax liability at all. This tells people that Britain values their work and will let them keep the rewards that it brings.
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