The UK Labour Party has announced plans to reverse cuts in the corporation tax rate in order to fund various education measures and programs. The plan includes increasing the corporation tax rate from its current 19% to 21% in 2018-19, 24% in 2019-20 and 26% in 2020-21. The small profits rate, payable by firms with profits below GBP 300,000, would be 20% in 2018-19 and 21% in 2020-21.

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