§ Mr. Ian Bruce
To ask the Chancellor of the Exchequer if he will make a statement regarding the impact of advanced corporation tax credits on Scottish pensioners. 
§ Dawn Primarolo
[holding answer 8 May 2001]:The Government's package of corporation tax reforms included not only the withdrawal of payable tax credits, 433W but also cuts in corporation tax rates. The withdrawal of payable credits removed a distortion in the tax system which encouraged companies to pay out their profits as dividends, rather than retain them for reinvestment in the business. These and other measures help to improve investment performance. The effect of these changes on the size of UK pension funds varies depending upon many factors, such as the type of scheme; the take-up of private pensions; the level of future contributions and the investment policy adopted by fund managers.
Department Current contracts with SERCO Contracts with SERCO over the lust three years HM Treasury None None Inland Revenue 1. Contract for the provision of off-site records management for IR offices at Nottingham 1. Remote typing services for IR East Region 2. Typing, secretarial and administration services at IR offices in Nottingham HM Customs and Excise 1.Provision of works manager services by way of a call-off contract to C&E offices in the South East (in existence throughout previous 3 years) 2.Supply installation and maintenance automatic number plate readers The Office for National Statistics None 1. July 1998— Consultancy services (installation of air conditioning) 2. January 1999—(minor works to server rooms) Office of Government Commerce None None PACE None None TBA None None CCTA SERCO have been a contractor in the CCTA managed S-Cat Catalogue