Orders of the Day — Budget Resolutions and Economic Situation

Part of the debate – in the House of Commons at 5:20 pm on 7th July 1997.

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Photo of Frank Dobson Frank Dobson The Secretary of State for Health 5:20 pm, 7th July 1997

Does the right hon. Gentleman accept that, as the water industry has made profits of £10.5 billion since privatisation, paid £3.5 billion in dividends and has not paid a penny piece in mainstream corporation tax, it might have a bob or two to contribute to the windfall tax? If the windfall tax is so damaging to the utilities, why have their share prices not crashed since Wednesday's Budget?