I confess that I am getting more confused. My local brewery, the Wolverhampton and Dudley Breweries plc—the largest independent brewer in the country, which makes good beer—pays corporation tax on its profits. If I were to have shares in it, and I stress to the Committee that I do not, and it paid me a dividend as a shareholder, having paid corporation tax, is the hon. Gentleman saying that I then do not pay income tax at all on that dividend, or that I only pay it if I am a higher rate taxpayer?

Mr. Flight rose—