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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 7:30 pm on 12th July 2010.

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Photo of Matthew Hancock Matthew Hancock Conservative, West Suffolk 7:30 pm, 12th July 2010

I thank the hon. Gentleman for inviting me to intervene. He has just admitted something that Chris Leslie could not deny, but did not admit. After this Budget, because of the banking levy, the banks will be paying more tax relative to other sectors of the economy, and that is stated on page 26 of the Red Book. I am very grateful for that important admission.

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