§ Mr. Stuart Hollandasked the Chancellor of the Exchequer what proportion of personal wealth was represented by the top 2 per cent., 5 per cent., 10 per
814Wtop 100 manufacturing companies, respectively, in absolute terms, since 1974;
(2) what has been the effective corporation tax paid by the top 25 and top 100 manufacturing companies since 1974 as a proportion of the nominal tax payable.
§ Mr. Peter Rees[pursuant to his reply, 28 July 1980, c. 477]: Information in the form requested is not readily available.
More generally, a calculation of an effective rate of corporation tax would depend not only on the rates of tax and the various tax reliefs and allowances, including relief for overseas taxation, available to the companies concerned, and the effects of taxation and reliefs between members of groups of companies, but also and very significantly on the choice of a definition of "profit" for this purpose.