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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 5:45 pm on 12th July 2010.

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Photo of George Mudie George Mudie Opposition Whip (Commons) 5:45 pm, 12th July 2010

I thank the Minister for giving way. I am sorry, I should have said "the shadow Minister"-old habits die hard. Does he recall that it was reported last year that the majority of the top 100 companies paid no tax whatever? That was not a matter of the tax system being complicated; it was a simple matter of their going to enormous lengths-working with the worst culprit, Barclays bank-to devise systems and work through offshore companies to avoid paying any tax. Do not Members on the Government Benches get angry that ordinary people work hard and pay their taxes while multinationals and other large companies go to extreme lengths to pay no tax whatever?

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