Surplus Target and Corporation Tax Debate

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Department: HM Treasury

Surplus Target and Corporation Tax

Eleanor Laing Excerpts
Monday 4th July 2016

(7 years, 10 months ago)

Commons Chamber
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George Osborne Portrait Mr Osborne
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My hon. Friend rightly says that as well as reducing corporation tax rates, we did a lot to reduce some of the reliefs that have been used—and some that have been abused. Broadly speaking, that is the right direction of travel for our tax system.

Eleanor Laing Portrait Madam Deputy Speaker (Mrs Eleanor Laing)
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The prize for patience goes to Nigel Mills.

Nigel Mills Portrait Nigel Mills (Amber Valley) (Con)
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That is not a prize I get often. I welcome the Chancellor’s decision to further reduce the rate of corporation tax—I called for it in the Budget debate last week, so I ought to welcome it. To get the most benefit out of that, we need to simplify our business tax system further to make it more attractive. Will he therefore agree to hold a review to try to make our system as simple as it can be?