Corporation Tax

HC Deb 12 May 1988 vol 133 c212W

43. Mr. Jack

To ask the Chancellor of the Exchequer by how much the standard rate of corporation tax has been reduced since 1979.

Mr. Norman Lamont

The main rate of corporation tax was 52 per cent. for the financial year commencing 1 April 1979. The proposed rate for 1988–89 is 35 per cent.