HC Deb 25 March 1999 vol 328 c353W
24. Mr. Ben Chapman

To ask the Secretary of State for Trade and Industry if he will make a statement on the impact of the new rate of corporation tax for small businesses. [77058]

Mr. Wills

Around 270,000 small and growing companies, that is two-thirds of all tax-paying companies, will benefit from the new 10 per cent. starting rate of corporation tax for small business, leaving them with more of their profits for retention, reinvestment and growth.