During his Budget speech to Parliament last week, Chancellor of the Exchequer, George Osborne, unveiled a major shake-up of corporate taxes including lowering the main rate companies pay to less than half the rate levied on firms in the United States.

"The British economy I report on today is fundamentally stronger than it was five years ago. We're growing faster than any other major advanced economy. Our businesses have created two million more jobs" – these were the words from Chancellor of the Exchequer, George Osborne, as he gave the first Conservative Budget since May’s General Election victory.