Balls: Reverse Corporation Tax cut and reduce rates for small businesses

 
"Small companies will get a tax cut from Labour if we win the election."
Speaking in Swindon in March 2015, Ed Balls said: “Instead of going ahead with the further cut in the large corporation tax rate, we’ll keep it at 21p, and use the money instead to cut and then freeze, for a second year, business rates for small companies.”

Mr Balls added: “That would mean an average saving of £400 a year for small companies. This is going to help 1.5ml small companies across all of England.”

“This is part of our plan to deliver a simpler and fairer tax system for small businesses.”

Ed Miliband reaffirmed this promise during the ITV Leaders’ Debate in April 2015, saying that a Labour government will “reverse the tax cut”.

Sources

Labour To Cut Rates For Small Businesses (Sky News)

Ed Balls: Labour will slash business rates for 1.5 million small firms in 'fairer tax' move (International Business Times)

Labour Press Labour will prioritise tax cuts for small firms with business rates cut in first Budget – Ed Balls (LabourPress)

 
 
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