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Closed petition Use the Corporation Tax System to Reward UK Based Manufacturing
Create a tiered Corporation Tax (CT) regime that charges higher rates to companies that have offshored the manufacture of their goods, and lower (minimum) rate to those who have onshore manufacturing. Companies that assemble parts of which 80%+ are from offshore must fall into the high tier of CT.
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The UK is overexposed to long supply chains and manufacturing infrastructure that is in the hands of hostile regimes who flood our markets with sub-standard goods and withhold vital products on a whim. A low rate of CT would encourage profit hungry corporations to repatriate their manufacturing as it may no longer be profitable to manufacture their goods offshore. Repatriation of manufacturing would provide many jobs and opportunities for the young to enter work through apprenticeships.
This petition is closed All petitions run for 6 months