Contractors to benefit from lower and simpler business taxes
In a speech at the CBI’s annual dinner on 19th May 2010, Chancellor George Osborne committed to lower and simpler corporate tax rates, which will certainly provide a direct benefit for contractors. A range of business measures were announced, including continued lower rates of capital gains tax for entrepreneurial activities and breaks for big firms investing in infrastructure. The latter is a positive sign for engineering contractors after the disappointments of other cancelled infrastructure projects like the new runways at Heathrow and Stansted. The full speech can be seen here.