Charlie Elphicke
Main Page: Charlie Elphicke (Independent - Dover)Department Debates - View all Charlie Elphicke's debates with the HM Treasury
(9 years, 11 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Charlie Elphicke (Dover) (Con)
5. What estimate he has made of corporation tax receipts in each year since 2010; and if he will make a statement.
The Financial Secretary to the Treasury (Mr David Gauke)
Her Majesty’s Revenue and Customs publishes annual corporation tax statistics every August. They show that revenues from corporation tax, excluding the ring-fenced oil and gas regime, were £35 billion in 2010-11, £33 billion in 2011-12, £35 billion in 2012-13 and £36 billion in 2013-14. The Government have delivered major cuts to corporation tax, but increased growth and investment in the UK mean that revenues from the main regime were higher last year than in 2010.
Charlie Elphicke
Is my hon. Friend aware that non-oil corporation tax receipts have risen 16% over the course of this Parliament so far, compared with a rise of just 8% over the entirety of the previous 13 years? Does that not show that if you cut the rate, you up the take? [Interruption.] How will the diverted profits tax work?
Mr Speaker
Order. The question was simply too long. The hon. Gentleman should have cut it off when he was winning, instead of going on for too long, which is what he then continued to do.