Sunak: we can lure foreign firms even with corporation tax rise

PM to press ahead with planned increase from 19% to 25% despite some Tory MPs' hostility

Rishi Sunak has insisted the UK will be able to lure foreign companies despite a planned rise in corporation tax, suggesting he will face down critical Conservative MPs ahead of this week's budget.

Despite some Tory MPs' hostility at the planned rise to corporation tax from 19% to 25%, Sunak stressed Britain would still have the lowest level of corporation tax in the G7, and added it would remain a fantastic place to invest to grow a business".