Budget (Businesses)

Part of Oral Answers to Questions — Wales – in the House of Commons at 11:30 am on 14th May 2014.

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Photo of David Jones David Jones The Secretary of State for Wales 11:30 am, 14th May 2014

My hon. Friend is entirely right, which is why we have reduced the rate of corporation tax from 28p in the pound to 21p, with a further reduction to 20% next year. For similar reasons, the Wales Bill makes provision for the Welsh Assembly to call a referendum on a lower rate of taxation for Wales, and I hope that it will seize that opportunity.