RUSHES: Global Investment Summit: Rishi Sunak speech

Global Investment Summit: Rishi Sunak speech; ** 2 of 4 ** ENGLAND: London: Hampton Court Palace: Global Investment Summit: INT Rishi Sunak MP (Prime Minister) speech continued SOT - Now when I say this country can be the best place in the world to invest and do business you should believe me and believe me because of three big competitive advantages. Our low tax approach; our culture of innovation; and our people. Firstly, tax. The purest expression of this government’s economic philosophy is that people and businesses make far better decisions about their own money than any government could. And I believe that by allowing you to keep more of the return on your capital our country becomes more competitive as a place to invest, grow, and create jobs. And make no mistake, we are cutting taxes. Not only do we have the lowest rate of Corporation Tax rate in the G7. Last week, we announced that we would make full expensing, permanent. This means you can write off the cost of many capital investments – in full. It makes our capital allowances regime one of the most generous in the world. And it was the biggest business tax cut in modern British history. And that’s not all. We’ve got lower capital gains tax rates than France, Germany, Italy, and Japan. Some of the most generous tax reliefs on stock options anywhere in the world. And we’re cutting personal taxes for 27 million working people, too. But while low taxes are crucial, they’re not enough on their own to make this country the best investment destination in the world. We’re also creating new ideas and turning those ideas into the most exciting companies of the future. And that’s the UK’s second competitive advantage: our incredible culture of innovation. Now the story of the United Kingdom has always been about discovery and invention. Ours is the country of Newton, Faraday, Hodgkin, and Lovelace of Stephenson’s steam engine, Darwin’s theory of evolution and the world wide web, invented ...