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We could reduce corporation tax to 10percentnt.
Depending on the rate, it could also be used to abolish council tax and reduce corporation tax.
Among a range of tax credits and cuts to red tape, he wants to reduce corporation tax to somewhere between Ireland's 12.5% and the UK's objective of 20%.
At a cost to the Exchequer of £2.7bn, George Osborne intends to reduce corporation tax from 28p to 24p over four years.
Sainsbury's chief executive Justin King has been banging the drum for months and recently revealed that for every £1 his company saved from the decision to reduce corporation tax, he has paid an extra £2.50 in business rate rises.
Among them is a commitment to reduce corporation tax to 23% by April 2014 and exempting UK resident companies from corporation tax on all profits for their foreign branches.
Similar(44)
White House officials insist that their plans can have a big impact and predict that the dividend tax cut will lift stock prices, improve business confidence and reduce corporations' costs of raising money.
C1 New Hewlett Initiative Hewlett-Packard plans to announce a technology initiative that it says can reduce corporations' personal computer costs by up to 45percentt by shifting processing power to a central bank of shared computers.
Known as "transfer pricing," these moves are frequently managed to reduce corporations' global tax costs.
Rather than encourage the practice, the secretary of commerce should facilitate cooperation among the states -- via federal legislation or an interstate compact -- to reduce corporations' abilities to extract subsidies by playing states and their residents off of each other, as states sprint past one another, into ever deeper deficits.
But why limit your axe merely to reducing corporation tax?
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