Multinational businesses may not be happy about Brexit, but U.K. Chancellor George Osborne’s proposal to slash corporate taxes to 15 percent offers small comfort in a period of uncertainty as the fallout from a vote to leave the EU weighs on prospects for doing business in Britain.

In a bid to signal that Britain is "open for businesses," Osborne said in an interview with the Financial Times that he wants to slash corporation taxes from the current 20 percent rate. Business groups say it is just one of many steps they would like to see from the government to maintain and lure investment as the U.K. negotiates its exit from the EU.

"It’s one of a number of measures that would reassure those businesses that are concerned in the aftermath of the referendum,” said Stephen Herring, head of taxation at Institute of Directors, a U.K. organization for professional leaders with 34,500 members. “It’s another way to give a nudge to foreign investors."

Osborne’s vision of post-Brexit Britain as a "super competitive economy" stands in stark contrast to the warnings he made before the referendum that he would be forced to raise taxes and cut spending if the U.K. voted to leave. As five fellow Conservative Party members of parliament mount bids to replace David Cameron as Prime Minister, it’s unclear if Osborne will even be around to push through his proposed tax cut.

David Fuller's view

This is a welcome return to responsible policies by the Chancellor of the UK Treasury.  Following an abundance of heated commentary following the Referendum, people need to be reassured of the UK’s competitive potential.