In an interview with the Financial Times, the chancellor said he would cut the rate to below 15% - some 5% lower than its current 20% rate. That would give the UK the lowest corporation tax of any major economy. Mr Osborne said the cut was part of his plans to build a "super-competitive economy" with low tax rates. A Treasury spokesperson confirmed the Financial Times's story was correct but said they did not know when the cut would happen. In March, the chancellor said corporation tax would fall to 17% by 2020. Mr Osborne told the FT it was important for "Britain to "get on with it" to prove to investors that the ... (full story)