37. Mr. Geoffrey Wilsonasked the Chancellor of the Exchequer what is the estimated average rate of Corporation Tax together with equivalent local taxation in the countries concerned paid by British-owned tea, palm oil and rubber 1289 plantations within the Commonwealth from information available to him from international sources.
§ Mr. DiamondSufficient information to make the estimates asked for is not available.
Mr. WilsonWill the right hon. Gentleman bear in mind that excessive taxation discourages investment in developing countries in industries in which the British would normally play a part? Would he bear this in mind when dealing with fiscal policy?
§ Mr. DiamondThat is why I was saying that there is no such excessive taxation.