Prime Minister pledges tax cuts in CBI speech

In his speech to the Confederation of British Industry (CBI) yesterday the Prime Minister pledged to cut various different taxes including corporation tax, construction tax, jobs tax, and research tax while also continuing to support an infrastructure revolution.

In his speech to the CBI, Mr Johnson stated: “Our ambition is to unlock the potential of the whole nation through three things: better infrastructure, better education, and technology…

“You may remember what happened in London over the course of the eight years that we were running it, we invested massively in transport infrastructure and there was a fantastic London challenge education programme where regions and areas of the city, that had been left behind, were able to participate in the growth and prosperity of the whole city…

“We must ensure that young people are able to exploit the opportunities that are being created, literally to find the work that this country produces, conveniently and affordable, and that means superb transport and communications.

“And that is why this government is embarking upon and infrastructure revolution, because now is the time to make those investments with interest rates at a historic low. Not borrowing for day-to-day spending but obviously looking at what we can do to find long term investments.

“Of course, that means supporting some fantastic major projects. I was proud to help deliver Cross Rail when I was Mayor of London, as well as the tube upgrades and many other projects. But we now want to go on with a Northern Powerhouse Rail, a West Midlands Metro system, and many other things. Big ticket items, we will do.

“But this also means investing in the simple improvements that I think so many people and businesses have been craving in transportation, modernising roads and junctions that have become bottlenecks and sources economic inefficiency.

“Putting in better bus services can make all the difference to towns, villages, and rural communities, better cycleways across the whole country, and we also want every home in the country to have convenience and the confidence that comes with gigabit broadband, 5G, 6G telephony…

“As we found here in London, in Greenwich and elsewhere, the market will find that it can build thousands more homes on brownfield sites, superb affordable homes, giving young people the chance to have the keys to their own property.”

If you would like to read more articles like this then please click here.

The post Prime Minister pledges tax cuts in CBI speech appeared first on UK Construction Online.