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Clause 1 — Main rate of corporation tax for financial year 2011

Part of Finance Bill – in the House of Commons at 4:45 pm on 12th July 2010.

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Photo of John Martin McDonnell John Martin McDonnell Labour, Hayes and Harlington 4:45 pm, 12th July 2010

I fully concur, which is why I think that HMRC must apply a lot more resources to tackling quantification. The estimates I have been given range widely from the £40 billion from the Treasury for both avoidance and evasion-its figures do not distinguish between them-to the £25 billion from the TUC solely for tax avoidance, to the higher estimates of anything between £70 billion and £150 billion for both evasion and avoidance. I know that Richard Murphy in particular has focused on evasion, which could account for anything between 40% and 60% of the budget deficit-the structural deficit as well-that this House has recently been debating, and dividing on almost unnecessarily it seems to me.

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