Capital Allowances

Wales written question – answered on 4th July 2012.

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Photo of Owen Smith Owen Smith Shadow Secretary of State for Wales

To ask the Secretary of State for Wales if she will assess the effect of reductions in capital allowances on the Welsh economy.

Photo of Dame Cheryl Gillan Dame Cheryl Gillan The Secretary of State for Wales

The capital allowances changes announced at Budget 2010 formed part of a wider package of reforms to the corporate tax system and contributed to financing the reductions in the main rate of corporation tax and small profits rate.

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