HC Deb 07 December 1992 vol 215 cc469-70W
Mr. Meacher

To ask the Chancellor of the Exchequer how much has been granted in tax relief to United Kingdom banks against possible default on third world debts in each of the last 10 years.

Mr. Dorrell

Provisions for doubtful sovereign debt by banks operating in the United Kingdom are estimated to have reduced corporation tax receipts in the last six years by the following amounts:

£ million
1986–87 70
1987–88 240
1988–89 550
1989–90 480
1990–91 720
1 1991–92 190
1 provisional

Estimates for earlier years are zero or small.

Back to