§ Mr. Austin Mitchell
To ask the Chancellor of the Exchequer what assessment he has made of the change in the yield of corporation tax as a result of the reduction in interest rates from 15 per cent. to 10 per cent.; and what further increase would result from a reduction in interest rates to 6 per cent.
§ Mr. Dorrell
The yield of corporation tax depends on all forms of company income and on reliefs and allowances, each of which may be affected directly or indirectly by interest rates and by a range of other factors. I regret therefore that it is not possible to answer the question put by the hon. Member.