§ Mr. WillettsTo ask the Chancellor of the Exchequer what assumptions about the level of employer contributions to self-administered pension schemes informed his forecasts for non-North Sea corporation tax revenues in(a) 2004–05, (b) 2005–06, (c) 2006–07, (d) 2007–08 and (e) 2008–09 as set out in Table C9 of the Budget 2004 Red Book. [186784]
§ Ruth KellyThe level of pension contributions in the economic forecast underlying the Budget 2004 non-North Sea corporation tax forecasts is circumscribed by the assumption made about the factor income shares of GDP. The assumption used is that in the medium-term, when GDP grows at the underlying trend rate, the factor shares of GDP are broadly constant. This assumption was re-examined by the National Audit Office for Budget 2004, and their conclusion was that it remained a reasonable one.