In his first major speech since taking office, the Chancellor last night promised to create the most competitive corporate tax regime in the leading G20 group of nations.
He signalled big cuts in corporation tax, currently paid at 28 per cent by large companies and 21 per cent by smaller firms.
Mr Osborne also promised to tear up a controversial Labour move to tax companies' foreign profits that have driven dozens abroad.
The Chancellor, speaking to the Confederation of British Industry, said only a resurgent private sector could drive a strong economic recovery.
He signalled big cuts in corporation tax, currently paid at 28 per cent by large companies and 21 per cent by smaller firms.
Mr Osborne also promised to tear up a controversial Labour move to tax companies' foreign profits that have driven dozens abroad.
The Chancellor, speaking to the Confederation of British Industry, said only a resurgent private sector could drive a strong economic recovery.
