Chancellor of the Exchequer George Osborne announced an additional cut in the rate of Britain's corporation tax in a bid to spur economic growth.
The tax will be charged at 21 percent from April 2014, which Osborne said will be the lowest rate of company tax in any major western economy. He previously planned to cut it to 22 percent in 2014.
"I want Britain to have the most competitive business tax regime of any economy in the world," Osborne told lawmakers as he delivered his Autumn Statement to Parliament in London. "This is an advert for our economy that says, 'Come here, invest here, create jobs here, Britain is open for business.'"
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