Pick of the press: Tuesday 18 May 2010

In the face of a likely increase in CGT, the coalition government’s chancellor George Osborne is expected to confirm his commitment to cutting the headline rate of corporation tax by three per cent. “We want to have the most competitive corporation tax environment in the G20,” says a Treasury source.

Financial Times – Osborne pressed over corporate tax

Daily Mail – George Osborne to cut corporation tax amid row over plans to hike capital gains tax

 

The government is expected to go ahead with imposing £6bn worth of spending cuts from next week, identified by the previous Labour government. George Osborne warns that it would be “disastrous” for the cuts not to go ahead.

The Guardian – Treasury brings forward £6bn Labour cuts

 

The Swiss city of Lucerne has sent officials over to London to tempt British entrepreneurs and businessmen to move. Lucerne boasts attractive corporation tax rates – as low as ten per cent. Sound good to anyone?

The Independent – Lucerne makes tax offer designed to attract expected exodus from the City

 

The Telegraph’s executive pay report shows that UK boards are shrinking, and the role of non-executive directors is increasing. Take a look at Britain’s 12 highest-paid boards.

Daily Telegraph – Executive Pay Report 2010: The UK’s 12 highest-paid boards

Property entrepreneur Brian Burnie is selling one of his hotels, the four-star Doxford Hall Hotel in Northumberland, to raise cash to pay for 25 minibuses that will help transport cancer patients. He says: “By operating a successful business, we are able to give something back to the community.”

Daily Telegraph – Businessman sells hotel to raise money for cancer charities

 

Homegrown brand Chase Vodka, the brainchild of food entrepreneur William Chase – who also founded posh crisp company Tyrrell’s – has been crowned the best vodka in the world at the 2010 San Francisco World Spirits Competition, beating Russia’s and Poland’s finest.

BBC News – English vodka brand voted the world’s best

 

Stelios continues to be in the news following his ongoing row with easyJet’s management. The row is costing both Stelios and the airline’s shareholders money, as the company’s shares have fallen six per cent in reaction to the feud. Who is going to back down?

Daily Mail – Shares in a tailspin as easyJet row takes off

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