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1006205

registered interest
date	13/11/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Freeports
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what assessment the Government has made of the potential merits of introducing free port schemes across the UK.
tabling member constituency	Romford
tabling member printed	Andrew Rosindell
uin	190815
answer	answer is ministerial correction date of answer 21/11/2018 answer text <p>The Government has been clear that it is open to ideas that deliver economic advantages for the UK.</p><p> </p><p>Section 100A of the Customs and Excise Management Act 1979 (CEMA) provides the legal basis for the designation of free zones by HM Treasury and will continue to do so following UK withdrawal from the EU. Applying for designation as a free zone will be a commercial decision to be taken by private port operators.</p><p> </p><p>It is worth noting that many of the customs-related benefits of free ports are already available through existing customs facilitations, for example inward processing relief.</p> answering member constituency Central Devon answering member printed Mel Stride question first answered 21/11/2018 14:58:48 answering member 3935 label Biography information for Mel Stride
tabling member	1447 label Biography information for Andrew Rosindell

1006210

registered interest
date	13/11/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Corporation Tax
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what assessment he has made of the effect of lowering the rate of corporation tax on corporation tax receipts since 2017.
tabling member constituency	Romford
tabling member printed	Andrew Rosindell
uin	190819
answer	answer is ministerial correction date of answer 21/11/2018 answer text <p>The OECD has concluded that corporation tax is the most harmful tax for growth and productivity.</p><p> </p><p>In April 2017, the corporation tax rate was reduced from 20% to 19%. This is the continuation of this government’s reduction in the rate from 28% in 2010.</p><p> </p><p>Lower corporation taxes can result in increased profits, wages, employment and consumption that all feed through into higher tax revenues that support our vital public services.</p><p> </p><p>Despite the rate cut in 2017, the onshore corporation tax revenues have increased from £53.6 billion in 2016-17 to £56.1 billion in 2017-18. Since 2010, onshore corporation tax revenues have increased by 55%.</p> answering member constituency Central Devon answering member printed Mel Stride question first answered 21/11/2018 15:35:46 answering member 3935 label Biography information for Mel Stride
tabling member	1447 label Biography information for Andrew Rosindell