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While speaking business leaders at a conference organised by Britain’s main business lobby, the CBI, on Monday, British Prime Minister Boris Johnson announced that they will be postponing further cuts in corporation tax.

“Pausing cuts in corporation tax is fiscally responsible, it does not mean we are averse to reducing taxes on business,” Johnson further explained, per Reuters.

These comments had little to no impact on the British pound’s market valuation. As of writing, the GBP/USD pair was trading at 1.2965, adding 0.52% on a daily basis.