HC Deb 02 December 1969 vol 792 cc1288-9
37. Mr. Geoffrey Wilson

asked 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 plantations within the Commonwealth from information available to him from international sources.

Mr. Diamond

Sufficient information to make the estimates asked for is not available.

Mr. Wilson

Will 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. Diamond

That is why I was saying that there is no such excessive taxation.