“Chancellor George Osborne has come up with one [plan] and his also has five points [see Johnson, Boris], key among them a proposal to cut corporation tax to below 15% – the lowest of any major economy – to encourage businesses to invest in post-Brexit Britain. The others, as revealed in an interview with the Financial Times, are:
Ensuring support for bank lending.
A push for more investment in China.
A focus on delivering the Northern Powerhouse.
Maintaining Britain’s fiscal credibility.
No word from the chancellor on the brightness of the future, though he does urge everyone to stop “moping around”.
Source: Guardian Live blog
If that’s the plan, where does it place devolution outside the “Northern Powerhouse”?
And did he mean investment IN China or FROM China?
Whatever, our LEP members – all hit hard by Brexit implications in their individual sectors (nuclear, arms dealing, housing development and universities) – must surely be taking time out from their LEP duties to spend more time with their own businesses, now in dire need of their expertise.
East Devon Watch 