Engagements

Part of Oral Answers to Questions — Prime Minister – in the House of Commons at 11:30 am on 28th March 2007.

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Photo of Tony Blair Tony Blair Prime Minister 11:30 am, 28th March 2007

Because overall it was better for business that we cut —[ Interruption. ] Yes, overall it was better for business that we cut the level of corporation tax, and we have now taken it down from 33p in the pound to 28p in the pound. We have also taken capital gains for small businesses down from 40 per cent. to 10 per cent., and that is why there has been such growth in small businesses in the past 10 years.