Singapore has a progressive personal tax system with top personal tax rate of 22% (i have not looked at Dubai).
The UK also has a progressive personal tax system, they just cut their top rate of tax from 45% to 40%
Corporate tax is 17% in Singapore, and 19% in the UK.
Also factor in, Ireland has a corporate tax rate of 12.5% and progressive tax rate up to 40%.
This cut seems meaningful from a market confidence perspective, it is unclear how the UK intends to fund these tax cuts in tandem with energy bailouts. Economists have taken a view that the books do not balance here. The UK has suggested that economic "growth" will solve the problem. In terms of attracting talent and businesses (and now possibly investment) to drive that growth as an alternative to the likes of Singapore or Ireland it seems unlikely.
Singapore has a progressive personal tax system with top personal tax rate of 22% (i have not looked at Dubai).
The UK also has a progressive personal tax system, they just cut their top rate of tax from 45% to 40%
Corporate tax is 17% in Singapore, and 19% in the UK.
Also factor in, Ireland has a corporate tax rate of 12.5% and progressive tax rate up to 40%.
This cut seems meaningful from a market confidence perspective, it is unclear how the UK intends to fund these tax cuts in tandem with energy bailouts. Economists have taken a view that the books do not balance here. The UK has suggested that economic "growth" will solve the problem. In terms of attracting talent and businesses (and now possibly investment) to drive that growth as an alternative to the likes of Singapore or Ireland it seems unlikely.