London - Britain will cut the main rate of corporation tax to 20% from April 2015 to try to boost investment and create jobs, finance minister George Osborne said on Wednesday.
"Britain will have a 20% rate of corporation tax - the lowest business tax of any major economy in the world," he told parliament in his budget statement. "That's a tax cut for jobs and growth."
Corporation tax is already due to fall to 21% in 2014.