Truss calls for corporation tax to be lowered to 19%

The former Prime Minister Liz Truss is to urge the government ahead of the Tory Party conference that high taxes on companies cannot be “normalised.”

The Conservative Party must position themselves as a “party of business again” and cut corporation taxes for companies.

Truss will urge the Chancellor Jeremy Hunt that this is the best way to start the economy growing again as the private sector is “drowning in red tape.”

It is expected that Truss will call for corporation tax to be slashed from 25% to 19%.

Truss is expected to say on Monday: “We must unleash British business by cutting corporation tax.

“We can’t stand idly by while companies like AstraZeneca move operations abroad because of our huge tax burden or small businesses shut up shop because they are drowning in red tape.

“We should be hungry to attract the world’s best businesses and encouraging people to start businesses here at home. We must not normalise the raiding of businesses’ coffers.

“Ahead of this year’s autumn statement, we must make the Conservative Party the party of business once again, by getting corporation tax back down to 19%.

“This is how we make Britain grow again. It is free businesses that will get us there, not the Treasury, not the Government and not the state.

“Only free businesses can get Britain out of its 25-year economic stagnation. Only free businesses can create the economic growth and tax revenues on which our public services rely.

“So let’s give British business more freedom by easing their tax burden – freedom to flourish, to employ, to export, to research, develop and invest in the future, and to make Britain grow again.”