Philip Hammond should shelve Osborne’s plan to cut corporation tax

In the wake of Brexit, George Osborne planned to “woo business” by reducing corporation tax – already heading for 17 per cent, the lowest rate in the G20, by 2020 – to less than 15 per cent. Will Philip Hammond, the new Chancellor, now follow through this plan, and would this be a step towards making the UK a tax haven? Judith Knott argues that it is not, but such policies won’t help the public purse.