Bull: robots could increase UK corporation tax rate to 25%

If the threat of robots taking people’s jobs in the future proves true then corporation tax must increase to offset the impact of reduced tax revenues from income tax and national insurance contributions (NICs), explains George Bull, tax partner at RSM

During my school years in the 1960s and early 1970s, computers and robots were held out as the gateway to an age of leisure. With robots undertaking everything from household chores to factory work, humans would be free to enjoy themselves. Inevitably, such a naïve vision was never to be realised. While computerisation and robotics have had a huge impact on all aspects of human life, for most people they have failed to deliver an age of leisure. 

Now, however, the rise of artificial intelligence (AI) seems set to fundamentally change the world of work. A recent report by Future Advocacy predicts that, depending where you live, between 22% and 39% of jobs are at risk of automation.                                                    

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