§ Mr. Chris SmithTo ask the Chancellor of the Exchequer for each of the last five years what was the amount of corporation tax forgone from British banking institutions in relation to the writing-down of developing country sovereign debt; and how much sovereign debt has(a) been cancelled or (b) been made available for debt-for-environment or debt-for-development swaps, in each of the last five years as a result of this writing-down.
§ Mr. DorrellProvisions for doubtful sovereign debt by banks operating in the United Kingdom are estimated to have reduced corporation tax receipts in the last five years by the following amounts:
£ million 1987–88 240 1988–89 550 1989–90 360 1990–91 720 11991–92 190 1 Provisional. I regret that the further information requested is not available centrally.