Change taxation law encouraging UK foreign investment & end the recession · petition

What the petition asks

Currently corporation tax for foreign investors is 20%. This should be lowered to 10% to encourage investors to invest in the UK. At the lockdown start £1= $1.42. The economy shrunk due to covid and by Sept 22 £1=$1.02. I am a trader let me explain how this can put an end to our financial woes.

In the week of the mini budget the Bank of England raised interest rates. Chancellor Karteng lowered corporation tax & raised traders bonuses cap. Foreign investors poured billions into the UK getting more interest & paying less tax. A $0.01 rise a week is great. After this sterling grew by $0.01/day! Sadly on 14th Oct 22 the Japanese Yen collapsed & they had to cancel the above or we'd go bust. A further lowering of such taxes would encourage more foreign investment & help end the recession.

Why it was rejected

It was not clear what the petition asked the UK Government or Parliament to do.

Petitions need to call on the Government or Parliament to take a specific action.

We understand that you want to see changes to corporation tax, but we're not sure exactly what changes you'd like to be implemented.

Corporation Tax is paid by businesses, not investors, so we're not sure whether you want Corporation Tax to be reduced for all businesses, or only some (and if so which).

Your petition also states that the rate of Corporation Tax is 20%. Since 1 April 2023 the rate of Corporation Tax has been 19% for companies with profits under £50,000, and 25% for companies with profits over £250,000. The rate of Corporation Tax for companies with profits between £50,000 and £250,000 is between 19 and 25%.

You could start a new petition explaining clearly what changes you would like to be made to Corporation Tax.

Timeline

12 Jun 2023	Petition opened for signatures
16 Jun 2023	Rejected by the Petitions Committee