Trump's tax cut plan sparks global tax war fears
Falling tax revenues will make it harder for governments to pay for welfare, health care and benefits, warn NGOs
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Paris
US President Donald Trump's plans to slash corporate taxes in the United States have sparked concerns of a new global fiscal race to the bottom, possibly involving a wave of negative social consequences, analysts said.
In what Mr Trump's economic adviser Gary Cohn described as "the most significant tax reform legislation since 1986, and one of the biggest tax cuts in American history", the White House plans to dramatically cut taxes for US businesses and individuals, slashing the corporate rate from a top rate of 35 per cent to 15 per cent.
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