Sir, Corporation tax revenues will continue sliding as competition drives down rates, and the government is rightly leading the way on this. But taxing companies is merely a proxy for taxing people, and a poor one at that. Only shareholders, employees and customers can bear the burden of corporation tax, something far too few people realise.
With all faith in the system now lost, taxes on capital income should be abolished and replaced with a tax on distributed income.
CEO, TaxPayers’ Alliance