§ 61. Mr. Hastingsasked the Chancellor of the Exchequer what estimate he has made of the effect his proposals for a corporation tax are having upon expansion plans within industry.
§ Mr. CallaghanThis is not a matter on which it is possible to make any estimate. As I explained in my Budget Speech it is one of the objects of the corporation tax scheme to provide an incentive to companies to plough back profits for expansion.
§ Mr. Pounderasked the Chancellor of the Exchequer (1) what are his proposals regarding the forthcoming corporation tax for the treatment of deeds of covenant already entered into by companies for the benefit of charitable, religious and educational organisations;
213W(2) what are his proposals for the treatment of deeds of covenant entered into by companies for the benefit of charitable, religious and educational organisations subsequent to the introduction of the corporation tax.
§ Mr. CallaghanI cannot add to my statement of 8th December on the corporation tax.