United Kingdom

British PM Plans Tax Cuts To Lure Businesses

Maybe the U.S. should try that


David Cameron has promised to carry on cutting business taxes to encourage more companies to relocate to Britain as world leaders gathered to discuss reforms of the international system.

The Prime Minister wants to persuade his counterparts at this weekend's G8 summit to agree to a crackdown on offshore tax havens across the world and will announce that the UK overseas territories and crown dependencies, such as the British Virgin Islands, have signed up to an information-sharing agreement on tax.

But he will also use the summit, which is being held in Northern Ireland, to promote the image of Britain as a good place for international companies to do business.

Speaking at an innovation conference in London on Friday, Mr Cameron said: "We want all our businesses to succeed and we are actually changing our tax system to try to encourage more multinationals to locate in the UK."