§ Mr. Peter BottomleyTo ask the Prime Minister, pursuant to his answer of 14 July,Official Report, column 44, if he will make a statement on (a) the recommendations relating to pension fund income contained in the documents cited and (b) the advice taken in respect of the review of corporation tax; and what statements his Department has made relating to the measures. [9116]
§ The Prime MinisterOur manifesto and business manifesto made clear our intention to review the corporate tax system. The changes announced in the Budget are consistent with our manifesto objective to promote greater long-term investment. The Budget promotes greater economic stability and provides a boost to quality and long-term investment which should benefit pension funds and other investors.
In the run up to the Budget advice was provided to the Chancellor by his civil servants. He also received a large number of representations from individuals, businesses and representative bodies. The Budget measures on corporation tax were set out in the Budget statement on 2 July. The details were published in the Financial Statement and Budget Report.