Clause 25 - Charge and main rate for financial year 2005
Finance Bill
10:15 am
Ms Dawn Primarolo (Paymaster General, HM Treasury; Bristol South, Labour)
Much as I am tempted to make announcements for the Chancellor for future years, I shall not do so. However, the answer to the hon. Gentleman's question about whether we keep the competitive rate of corporation tax under review is yes. The Chancellor always seeks—in setting the headline rate on corporation tax, or the various allowances and interactions in the tax system—to ensure that our corporate tax system is highly competitive as it is and still one of the lowest in Europe. Our competitive advantage remains.