§ Mr. Crawfordasked the Chancellor of the Exchequer what is his estimate of the cost to the Exchequer of a 21 per cent. reduction of the rate of corporation tax (a) in Scotland and (b) in the United Kingdom.
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§ Mr. Robert SheldonA cut of 2½ per cent. points in the rate of corporation tax would cost about £140 million in a full year. No information is available on the cost of a corresponding cut in tax on profits arising in Scotland, since these cannot be identified in companies' accounts; the effect for companies with a registered office in Scotland would probably be under £10 million.