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Finance (No. 3) Bill

RDAs are a very important factor in our discussion. The Minister indicated why the corporation tax cut should progress. Simply, he believes that the measure will help to compensate for the loss of public spending across the board. We need to look at that in great detail, and I want the Minister to respond on three particular issues. First, which businesses that would have left the UK will be maintained here by the corporation tax cut? If we forgo that £1.1 billion, which companies would leave if the cut is not undertaken? Secondly, which businesses and sectors can the Minister most attract to the UK from France, Germany and other places abroad because of the corporation tax cut? Thirdly, does he believe that some businesses will not grow in the UK if we do not make that cut? Those are legitimate questions and legitimate points that we needed to make. The official Opposition support the principle behind clause 4 and we will not oppose it. The clause is the direction of travel that we need to take, but it is incumbent on the Minister to outline to us in clear and detailed terms how those objectives will be met. At a time of massive public spending cuts and growing unemployment in the country at large, and when 500,000 are being made unemployed, we need to know how this corporation tax cut fits into a wider growth strategy in the UK as a whole.