David Cameron: We are lowering taxes to encourage multi-nationals to come to Britain The cut to 20 per cent is the third in a row by George Osborne, with the rate dropping from 28 per cent to 24 per cent in April, and from 24 per cent to 21 per cent in 2014. Mr Cameron added that he was happy as British Prime Minister to bang the drum overseas for indigenous British firms, or foreign firms with operations in the UK. Speaking at the east London offices of German industrial giant Siemens, he said: "On trade missions I work extremely hard to try to make sure that businesses based in Britain whether British or not are on that aeroplane travelling the world with me trying to make sure we win the contracts and the deals around the world." However he added that in terms of "future job creation" he thought it was "the small, the start-up, the insurgent" that were going to be "particularly important." Mr Cameron said he was concerned about the relative failure of home grown British companies to grow as quickly as foreign rivals. He said it had been a "disappointment to me" that while some amazing companies like Google and Amazon had gone "from nought to 100," some British firms had only gone "from nought to 50." He said: "I want to try and make sure that the next wave - and there will be a next wave because of the speed of innovation - some of those are born and bred right here in Britain." The Government could take a lead by encouraging risk-taking in the civil service, he said, but he said this was being frustrated by aggressive criticism of officials from MPs on the Public Accounts Committee, which monitors Whitehall spending. He said: "We have to create a culture in the civil service where we are prepared for risks, sometimes breaking up contracts into smaller parts which is what we have done with IT and it does mean a culture of a little bit more risk taking and it also means adopting that sense which you have in business that if you fail, that is not somehow a disaster, that is part of the process of getting it right. Government needs to change a bit, also the Public Accounts committee in Parliament can be very risk and innovation averse. So we have to be careful about that. Margaret Hodge, the chairman of the committee, hit back, telling The Daily Telegraph that Mr Cameron's comments "show how effective we are being" and said her committee would grill officials with "no fear or favour." She said: "It is a complete nonsense and a travesty. We are the first to argue that innovation is absolutely [vital], and new ways to deliver services is central to many of the budget cuts. What we will not tolerate is ill thought through proposals hastily put together while ignoring evidence of past experience. Writing in The Daily Telegraph on Friday, Ryan Bourne, head of economic research at the Centre for Policy Studies, said that the "shrill posturing" by MPs on tax avoidance was threatening "to cause long-term harm to the UK economy."