Phasing Out of Aprt

Part of Orders of the Day — Finance Bill – in the House of Commons at 7:45 pm on 28th April 1983.

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Photo of Dr Dickson Mabon Dr Dickson Mabon , Greenock and Port Glasgow 7:45 pm, 28th April 1983

In fairness to the hon. Member for Canterbury (Mr. Crouch), the Minister has the audacity to talk about a reduction in corporation tax. It is conceivable that a marginal field would reach the stage of not paying PRT at all and could be developed only if it were below the level at which it would be liable for corporation tax. There is no provision to allow a marginal field to be below that level, which is what the Minister critically implied.