Theresa May is to commit the UK to a £2bn annual fund for scientific research and development and a review of tax incentives for innovative corporations in an effort to boost the technology industry. Mounting frustration with No 10 was disclosed last month when Carolyn Fairbairn, the CBI’s director general, publicly accused the prime minister of “closing the door” on Britain’s open economy. It followed industry concerns that the new prime minister was less business friendly than her predecessor, David Cameron. Current UK corporation taxes are set at 20% but are due to drop to 17% by 2020. Referring to the upcoming green paper on corporate governance, the prime minister will emphasise that she will take business leaders’ opinions into consideration.

Source: The Guardian November 21, 2016 00:01 UTC