Business Taxation

Part of Oral Answers to Questions — Treasury – in the House of Commons at 12:00 am on 13 May 1999.

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Photo of Mr Nick St Aubyn Mr Nick St Aubyn Conservative, Guildford 12:00, 13 May 1999

As a result of the Government's first Budget and the changes in pensions tax, business will have to pay an extra £5.5 billion in taxation next year. As a result of the Government's changes in corporation tax in their second Budget, business will have to pay an extra £2 billion in taxation next year. As a result of the environmental levy in this year's Budget, business will have to pay an extra £1.75 billion next year. Does the Chief Secretary realise that business can pay those extra taxes only by charging its customers more, and that more than £9 billion will therefore be taken by stealth from the pockets of British people?