Treasury hopes to claw back tax cut

Press Association
George Osborne
George Osborne

%VIRTUAL-SkimlinksPromo%More than half the cost of George Osborne's cuts to corporation tax could eventually be clawed back by the Treasury as a result of the extra jobs, growth and investment that they stimulate, the Chancellor is claiming.

A HM Revenue and Customs (HMRC) study, published alongside the Autumn Statement, will suggest that over the next 20 years the planned reductions in the tax on company profits will increase the size of the economy by between 0.6% and 0.8%.