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748062

registered interest
date	04/07/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Corporation Tax
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, if the Government plans to bring corporation tax down to 17 per cent by 2020.
tabling member constituency	Hornsey and Wood Green
tabling member printed	Catherine West
uin	2804
answer	answer is ministerial correction date of answer 12/07/2017 answer text <p>The government legislated in the 2016 Finance Act to reduce the corporation tax rate to 17% in April 2020.</p><p> </p><p>We want to ensure the UK remains an attractive destination to set up and grow a business. Cutting corporation tax increases the returns companies receive on their investments, allowing them to increase investment, lower prices, hire staff or increase wages.</p> answering member constituency Central Devon answering member printed Mel Stride question first answered 12/07/2017 09:19:46 answering member 3935 label Biography information for Mel Stride
tabling member	4523 label Biography information for Catherine West

732325

registered interest
date	23/06/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Corporation Tax
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, with reference to the Prime Minister's oral contribution of 21 June 2017, Official Report, column 61, what estimate the Government has made of the additional revenue that will be accrued to the public purse as a result of reductions in the rate of corporation tax.
tabling member constituency	Kilmarnock and Loudoun
tabling member printed	Alan Brown
uin	957
answer	answer is ministerial correction date of answer 28/06/2017 answer text <p>OECD analysis concludes that corporate taxes are the most harmful type of tax for economic growth. Cutting corporation tax allows companies to invest in expanding their business, boost wages, create jobs and lower prices for consumers.</p><p> </p><p>Despite cutting the rate, onshore corporation tax receipts have increased by over 50% from £36.2 billion in 2010-11 to £54.3 billion in 2016-17, above their pre-crisis peak. The Office for Budget Responsibility have projected receipts to increase further to £54.8 billion in 2021-22.</p> answering member constituency Central Devon answering member printed Mel Stride question first answered 28/06/2017 13:38:36 answering member 3935 label Biography information for Mel Stride
tabling member	4470 label Biography information for Alan Brown