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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 6:45 pm on 12th July 2010.

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Photo of Clive Efford Clive Efford Labour, Eltham 6:45 pm, 12th July 2010

I am grateful to my hon. Friend, because his probing is uncovering who is winning the arguments on the Government Benches. The Liberal Democrats went into the election calling for a 10% levy on banks, but the outcome is that what has been raised in the levy has more than been compensated by the corporation tax cuts. We are seeing who is winning the arguments on the Government Benches on making the banks pay their fair share.

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