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Surplus Target and Corporation Tax

Part of the debate – in the House of Commons at 4:27 pm on 4th July 2016.

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Photo of Rachel Reeves Rachel Reeves Labour, Leeds West 4:27 pm, 4th July 2016

The OBR says that cuts in corporation tax have so far had no discernible impact on either business investment or growth. Indeed, in the latest forecast, despite cuts to corporation tax, business investment was revised down. I urge the Chancellor to look instead at helping small businesses or investing in infrastructure rather than going ahead with further cuts in corporation tax, which so far seem to have made no difference.