§ Mr. Joel Barnettasked the Chancellor of the Exchequer if he will make a statement on the action he is proposing to take on the recommendation from the Select Committee on Corporation Tax as to the effect on organisations that do not pay dividends, arising from the increase in corporation tax from 40 per cent. to 50 per cent. on 1st April 1973, with special reference to the effect on trade unions, an example of which was recently submitted to him by the hon. Member for Heywood and Royton.
§ Mr. NottOn the general question, there is nothing I can add at present to the answer given on 8th August 1972 to my hon. Friend the Member for Truro (Mr. Dixon). Discussions with interested bodies are continuing. I am writing to the hon. Member about the specific case which he has sent to me. The rate of 50 per cent. which the hon. Gentleman quotes is, of course, only illustrative.—[Vol. 842, c. 350–1.]