PM wants to reverse £15bn tax raid on business Prime Minister Boris Johnson wants to reverse Chancellor Rishi Sunak’s planned tax raid on business, with allies of the PM saying he is determined to stop next year’s six-percentage-point rise in corporation tax. The Times’ Oliver Wright cites a senior Conservative source who said the Prime Minister does not want to put up corporation tax "but the Treasury and Rishi are holding him to it.” The source said that it is a “constant battle,” with the PM set to try and cut the planned rises in corporation tax. “He’s going to have a big fight with Rishi on it,” they added. Under plans set out in last year’s Budget, corporation tax is due to rise from 19% to 25% in April next year. A number of senior Tory MPs are reportedly pushing the Chancellor to unwind, at least in part, some of the increase, with Mr Johnson understood to have privately indicated that he also wants to see a change in approach. A source said: “There are a lot of MPs who are very unhappy with the planned rise and are lobbying hard to stop it. It sends out entirely the wrong message to business when the economy is on the brink of recession.”