Baroness McIntosh of Pickering
Main Page: Baroness McIntosh of Pickering (Conservative - Life peer)Department Debates - View all Baroness McIntosh of Pickering's debates with the HM Treasury
(10 years, 10 months ago)
Commons ChamberThe hon. Gentleman is wrong to say that the scheme has done nothing to encourage supply; 10,000 homes have been started under the current scheme. The Home Builders Federation itself has said that a lack of affordable mortgage availability remains the biggest constraint on housing supply. That is a problem; we are solving it.
7. What his policy is on the payment of corporation tax by foreign-based companies; and if he will make a statement.
The Government are committed to creating the most competitive corporation tax regime in the G20 to support investment that drives economic growth. We want a system that is stable and fair with all companies abiding by the rules and making their contribution. We are cutting the rate to 20% by 2015, clamping down on avoidance and aggressive tax planning and driving forward multilateral efforts to modernise the international tax framework.
Will my hon. Friend join me in celebrating the water industry, a flagship industry since its privatisation over 20 years ago? Will he explain to the House the benefit to consumers of deferring corporation tax against current foreign investment received?