§ Mr. BercowTo ask the Chancellor of the Exchequer what estimate he has made of the number of companies that will gain in 2002–03 from the exemption from corporation tax of companies with taxable profits of less than £10,000; and what the cost to public funds will be. [52376]
§ Dawn Primarolo150,000 companies with profits of £10,000 or less and with total corporation tax liabilities of £50 million in 2002–03 under a 10 per cent. starting rate of CT will have no liability as a result of the new zero rate band. Further information about changes to the corporation tax rates for small companies is contained in the Budget 2002 report.