'Govt needs to get balance right on corporation tax in budget', says Lloyds of London CEO

The government needs to get the "balance right" on corporation tax ahead of its budget, a top business leader has told Sky News, warning the UK needs to attract and grow businesses. John Neal, chief executive of commercial insurance market Lloyd's of London, said Labour needs to get tax in the "right place corporately so it encourages businesses to want to operate from here". He added: "There are clearly financial difficulties for any government, but let's get the balance right so that we can allow businesses to grow". He also spoke about the importance of "stepping up" in a "riskier world". Lloyd's of London, which is made up of more than 50 companies, has announced a 26% rise jump in pre-tax profits for the first half of the year to £4.9bn. Read more business news here: https://news.sky.com/business SUBSCRIBE to our YouTube channel for more videos: http://www.youtube.com/skynews Follow us on Twitter: https://twitter.com/skynews Like us on Facebook: https://www.facebook.com/skynews Follow us on Instagram: https://www.instagram.com/skynews Follow us on TikTok: https://www.tiktok.com/@skynews For more content go to http://news.sky.com and download our apps: Apple https://itunes.apple.com/gb/app/sky-news/id316391924?mt=8 Android https://play.google.com/store/apps/details?id=com.bskyb.skynews.android&hl=en_GB Sky News Daily podcast is available for free here: https://podfollow.com/skynewsdaily/ Sky News videos are now available in Spanish here/Los video de Sky News están disponibles en español aquí: https://www.youtube.com/channel/UCzG5BnqHO8oNlrPDW9CYJog To enquire about licensing Sky News content, you can find more information here: https://news.sky.com/info/library-sales