Georbe Osborne, the chancellor of the exchequer, said

The possible impact will be a sharp reduction in corporate tax 5% to 15%, in order to prove to investors that Britain remains open to businesses, attracting investors to continue to inject capital into the UK, and to build the UK into a competitive and low tax super economy.

The Minister of finance Osborne has announced in the budget report of this (2016) March that the company tax will be gradually reduced to 17% before 2020.

BOE also took steps to prevent Britain from falling into the credit crunch again in 2008.

Britain's downfall of the corporate tax will directly push Ireland's current low 12.5% tax rate into one of the world's most low tax competitive global economies.

The British economic outlook has been overshadowed since the result of the referendum in June 23rd (2016). The pound has fallen by more than 11% against the US dollar, falling below the 30 year low, and the Osborne minister has been forced to give up the target of budgetary surplus before 2020.

Britain's future in the world will be unstable as Britain renegotiate with EU after leaving Europe.

The Standard & Poor's, an international credit rating agency, has lowered the rating of the UK credit rating by two, from AAA to AA.

OECD

Pascal Saint-Amans believes that the negative impact of Europe on competitiveness in the UK may make Britain more aggressive in reducing tax rates, and may even lead to a new tax haven in Britain.