§ Mr. David Mitchellasked the Chancellor of the Exchequer what is the latest estimate of yield of corporation tax for the year ended 5th April, 1971; and how this compares with the yield of a rate of 40 per cent., 35 per cent., 30 per cent., 27½ per cent. and 25 per cent., respectively.
§ Mr. Patrick JenkinThe Budget Estimate for 1970–71 is £1,900 million amended to £1,840 million as a result of the reduction in the rate announced on 27th October. Figures for the other rates quoted depend on speculative assumptions about such variables as the level of dividends and capital investment by companies. As the calculations would involve a disproportionate amount of work, I regret I cannot give the estimates asked for.