Johnson shelves tax cut at British conference; Corbyn vows 'investment'

Nov. 18 (UPI) -- British Prime Minister Boris Johnson said Monday he will delay a planned corporation tax cut to fund public priorities.

Johnson said he would keep the corporation tax the same instead of cutting it from 19 percent to 17 percent next year. He announced the delay in a speech at the Confederation of British Industry Conference.

Johnson told business leaders the move would generate over $7.7 billion for "priorities of the British people," like the National Health Service.

The move comes as Johnson tries to separate himself from the big business perception of his Conservative Party while promising small businesses tax cuts.

CBI chief Carolyn Fairbairn said shelving the corporation tax cut "could work" only if Johnson has other ways to promote business growth, but applauded proposed policies to cut employers' National Insurance contributions.

Johnson also promised his plan to take Britain out of the European Union in January will provide "certainty."

Jeremy Corbyn, who's in the middle of a campaign ahead of new parliamentary elections next month, promised his Labor Party isn't 'anti-business.'

"It's sometimes claimed that I'm anti-business," he said. "That is complete nonsense.

"It's not anti-business to be against poverty pay. It's not anti-business to say the largest corporations should pay their taxes just as smaller companies do. It's not anti-business to want prosperity in every part of our country and not only the city of London."

If a Labor government is elected on Dec. 12 you're going to see more investment than you ever dreamed of."