Before the new UK chancellor, Jeremy Hunt, rolled back almost all of September’s mini-budget measures, the first tax cut to go was Liz Truss’s plan to scrap a corporation tax rise.
The political turmoil caused by the mini-budget has had a negative effect on the public’s perception of this government, and it certainly hasn’t eased the concerns that businesses have over its changing tax policy. While markets have started to recover some lost ground from the past few weeks, the corporation tax U-turn seemed to do little to quell anxiety in the markets when it was announced ahead of the full mini-budget reversal on October 17.
