FT.com / UK - Tory treasurer expects swingeing tax cuts.
In a video interview with the Financial Times, Mr Spencer, the multimillionaire chief executive of Icap, the interdealer broker, said the Tories “cherish the City”.
Mr Spencer said he expected a Toryadministration to go far further than the party’s existing pledge of a cut in the main rate of corporation tax from 28p to 25p, which would be funded by axing reliefs and allowances.
“I am hopeful that, over the next parliament ... we will get corporation tax down towards the 20 per cent level.”
At least the situation is clear: it's tax cuts for the wealthiest and service cuts for the poorest in the UK after the next election.
That's just about all Labour and the Lib Dems have to say, repeatedly.
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