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Privatisation Proceeds

Part of Oral Answers to Questions — Treasury – in the House of Commons at 12:00 am on 13th March 1997.

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Photo of Mr David Congdon Mr David Congdon , Croydon North East 12:00 am, 13th March 1997

Given the success of the privatised industries in reducing prices while paying more than £2.5 billion a year into the Treasury, does my right hon. Friend think that it is somewhat perverse to reward that success by imposing a windfall tax? What incentive is there for such companies to be profitable when their success would be rewarded by the Labour party plundering their profits?