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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 8:45 pm on 12th July 2010.

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Photo of Barry Gardiner Barry Gardiner Labour, Brent North 8:45 pm, 12th July 2010

Is my hon. Friend aware of the predicated growth, contained in the Government's figures, of the private sector generation of income into the Treasury over the next five years, and does he believe that that is compatible with the reduction in capital allowances that has been announced? In particular, would he care to comment on the timing of that reduction at precisely the moment when-if the Chancellor's figures were to work out-the economy would be about to see the largest part of its expansion?

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