Charge and Basic Rate of Income Tax for I988–89

Part of Orders of the Day — Finance (No. 2) Bill – in the House of Commons at 8:45 pm on 3rd May 1988.

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Photo of Mr Matthew Carrington Mr Matthew Carrington , Fulham 8:45 pm, 3rd May 1988

It is widely assumed that foreign investment in this country comes from high interest rates and not from low tax rates. I do not think that there is a causal relationship between high interest rates and foreign investment, but I have not heard anybody expound the theory that low personal tax rates encourage foreign investment.