The Labour Party proposes wide-ranging increases in government spending, nearly 20% of which would be funded from corporation tax rises. Most bizarrely of all, part of the money raised from corporation tax increases would go to paying a premium for arts students. Currently, small corporations pay 20% corporation tax. The IFS goes on to say that the proposed corporation tax rises would not raise anything like the amount estimated. In short, higher corporation tax is not a free lunch.

Source: Forbes June 01, 2017 00:33 UTC