Clause 5

Part of Finance (No. 3) Bill – in a Public Bill Committee at 5:30 pm on 10 May 2011.

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Photo of David Hanson David Hanson Shadow Minister (Treasury) 5:30, 10 May 2011

I am grateful to my hon. Friend for that observation.

Reports in April show that 186,554 UK businesses have been experiencing critical or significant financial problems—a rise of 26% over three months and of 15% in the previous 12 months. Companies that rely on discretionary spending are suffering particularly badly, as consumer spending falls. Corporation tax is critical for growth in our communities.