Taxation: Business Taxes

Part of the debate – in the House of Lords at 2:52 pm on 23 October 2007.

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Photo of Lord Davies of Oldham Lord Davies of Oldham Deputy Chief Whip (House of Lords), HM Household, Captain of the Queen's Bodyguard of the Yeomen of the Guard (HM Household) (Deputy Chief Whip, House of Lords) 2:52, 23 October 2007

My Lords, on the question of statistics, the World Economic Forum's global competitiveness report placed the UK 10th out of 125 countries in its ranking of international business competitiveness. I want to reinforce a point that I was able to correct yesterday. The British economy is strong, with some of the lowest taxes in certain areas in the G7; it is below the average found among the noble Baroness's chosen illustration, the OECD countries.