The reason why I have tabled the amendment is that we are facing an effective convergence over the next two years of the higher and lower rates of companies and corporation tax. The corporation tax that has been proposed, discussed and agreed in clauses 4 and 5 has led to a lower rate for predominantly larger companies, or companies with higher profitability. Clause 6 provides for a lower rate of 20% on company profits other than ring-fenced profits, and 19% on ring-fenced profits. In my view, that is closer to the main rate of corporation tax under clause 4, which has been discussed and agreed.
My purpose is simply to give the Minister an opportunity to outline his view of corporation tax changes for small businesses. I think that he and I agree that small businesses are the economic generator of many levels of employment in our constituencies, and they need Government support to ensure that they are not disadvantaged by the changes proposed elsewhere in the Bill.