§ Mr. Gryllsasked the Chancellor of the Exchequer what would be the estimated annual cost to the Exchequer of introducing a graduated scheme of corporation tax, without marginal rate penalty, for all unquoted United Kingdom resident trading companies on the basis of the bands of taxable profits and reduced rates of tax set out in the proposed new clause 22 to the Finance Bill.
§ Mr. Peter Rees[pursuant to his reply, 27 July 1981]: It is not possible to estimate the eventual cost for companies which might qualify. The direct cost if the proposal applied to all companies would be about £400 million. There would also be consequential costs which it has not been possible to estimate.