§ Mr. George Rodgersasked the Chancellor of the Exchequer what would be the yield of corporation tax for 1975–76 if the rates were increased by 5 per cent. and 10 per cent., respectively.
§ Mr. Joel BarnettThe yield of corporation tax in 1975–76 if the rates on profits arising in 1974–75 were increased by 5 percentage points to 57 per cent. or by 10 percentage points to 62 per cent., with corresponding increases in the small companies rate, is estimated at£2,200 million and£2,275 million, respectively. The estimates do not take into account any reduction in payments of advance corporation tax which might result from consequential changes in companies' dividend payments.