§ Mr. Austin MitchellTo ask the Chancellor of the Exchequer whether he will publish in theOfficial Report his estimate of the gain to the revenue in a full year of increasing the rates of corporation tax and advance corporation tax, respectively, to 52 per cent.
§ Mr. Norman LamontThe yield from increasing the main rate of corporation tax to 52 per cent. would be about £11 billion at 1987 levels of company profits and dividends. The additional yield from increasing the advance corporation tax rate and small companies rate to 52 per cent. would be about £2 billion. These estimates take no account of possible behavioural effects following such a change.