UK to slash corporation tax after Brexit blow

The face of Brexit, makes his exit. UKIP leader Nigel Farage says he's stepping down.

Having achieved his goal of getting Britain to vote to leave the EU.

Nigel Farage said: "During the referendum campaign I said, I want my country back. What I'm saying today is I want my life back, and it begins right now."

Farage says he's not a career politician.

Those who are though, now have a big burden. Keeping business in Britain, without the lure of the EU single market.

UK Finance Minister George Osborne has one solution, slashing corporation tax.

Making Britain a competitor with its alluring neighbours.

CMC Markets Analyst, Michael Hewson, said: "Even if Mr. Osborne does cut corporation tax to 15 percent as is mooted, it will still be above Ireland's corporation tax of 12.5 percent. So I think Mr. Osborne needs to move on, he needs to look far longer term."

Osborne appears to be considering that too.

He's reportedly thinking of increasing bank lending, maintaining financial credibility and investing more in northern England.

More might be needed though.

Financial data company Markit says the construction industry had its worst contraction in seven years last month ahead of the vote.

The sector accounts for six percent of the economy.