§ Mr. Higginsasked the Chancellor of the Exchequer if he will specify the assumptions on which his 1969–70 estimates of the yield of corporation tax have been based.
§ Mr. TaverneThe estimated yield of corporation tax in 1969–70 depends mainly upon the levels of profits earned and capital expenditure incurred by companies in 1968 about which there was a substantial amount of information available by the time the Budget estimates were made. I would refer the hon. Member to tables 3 and 9 in the National Income White Paper (Cmnd. 3983).