Capital flight happened in the 70's in the UK, but we are far from those levels at the moment.
Cutting corporation tax and making it easier for business does generally speaking increase tax revenues and create more jobs though - and it is simply wrong to suggest otherwise.
The additional jobs that are generated creates more tax revenue from income tax, NI, etc
I just don't like his hammer business rhertoric, it's nonsense. It's not small and medium sizes businesses that need to pay.
It's the multinationals, the corporates that head quarter in low or zero tax countries and declare all their profit there, rather than in the country the profit was actually generated in.