§ Mr. David Mitchellasked the Chancellor of the Exchequer what is his latest estimate of the cost of relieving from the small firm rate of corporation tax companies whose pre-tax profits are £100,000 per annum or less.
§ Mr. Robert SheldonIf the hon. Member has in mind the cost of extending the application of the small companies rate of corporation tax from companies with profits of up to £30,000 to those with profits of up to £100,000, then on the assumption that the upper limit for marginal relief would be raised from £50,000 to £150,000 the cost is estimated to be in the neighbourhood of £75–90 million in a full year.