Proceeding contribution from Stewart Hosie (Scottish National Party) in the House of Commons on Wednesday, 12 March 2008. It occurred during Budget debate on AMENDMENT OF THE LAW.
AMENDMENT OF THE LAW
The corporation tax reduction was announced last year, and it will come into force, but it was accompanied by the comparable loss of a number allowances—including industrial buildings allowances, which cover hotels and the tourism sector—for which it did not compensate by any manner of means. There was a net take from business of around £5 billion. Yes, the headline corporation tax rate fell, but the small companies rate went, and the allowances were destroyed.
Secondary information
- Type
- Proceeding contribution
- Reference
- 473 c353
- Session
- 2007-08
- Chamber / Committee
- House of Commons chamber
- Subjects
- Budgets Borrowing Economic situation Public sector Taxation Tax yields Budget March 2008
- Link
- View this Proceeding contribution on www.publications.parliament.uk
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- 2023-12-16 01:03:58 +0000
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- http://data.parliament.uk/pimsdata/hansard/CONTRIBUTION_454585
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