Corporate Tax

Part of Oral Answers to Questions — Treasury – in the House of Commons at 12:00 am on 6 April 2000.

Alert me about debates like this

Photo of Andrew Smith Andrew Smith The Chief Secretary to the Treasury 12:00, 6 April 2000

Our main rate of corporation tax is the lowest among the major industrialised countries and our small companies rate is one of the most competitive in the European Union. We have cut both by three percentage points since taking office. I am pleased to say that our new starting rate of 10 per cent., which was introduced this month specifically for small companies, is the lowest rate in the EU. About 270,000 companies will benefit from the starting rate. By means of that and other measures, we have established a stable, low-rate, competitive tax environment, in which business can thrive.