§ Mr. FlightTo ask the Chancellor of the Exchequer what the cost to the Exchequer was in tax receipts foregone of the 10 per cent. rate of corporation tax introduced in the 1999 Budget for the smallest companies, in each year since its introduction. [144655]
§ Dawn PrimaroloThe 10 per cent. starting rate of corporation tax is estimated to have reduced the CT liability of small companies with accounting periods ending in 2000–01 and 2001–02 by £85 million and £140 million respectively. Estimates are not yet available of the impact of the starting rate on accounting periods ending in 2002–03.