§ Mr. Jim CunninghamTo ask the Chancellor of the Exchequer what reductions in taxation on business there have been since 1997. [51484]
§ Dawn PrimaroloAll changes to the tax system are included in the relevant Financial Statement and Budget report, which is available in the Library of the House.
Budget 2002 takes further steps to build a corporate tax regime which recognises the realities of the modern business environment and competes with the best in the world. Reductions in business tax include cutting the main rate of corporation tax from 33 per cent. to 30 per cent., the introduction of a 10 per cent. starting rate, which has now been cut to zero, and the introduction of an R&D tax credit.