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Department: HM Treasury

Stephen Timms

Main Page: Stephen Timms (Labour - East Ham)

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Points of Order
Tuesday 9th December 2014

(9 years, 5 months ago)

Commons Chamber
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David Gauke Portrait Mr Gauke
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We are confident that the measure will be effective in targeting multinationals that use aggressive tax planning and contrived structures to avoid UK tax. The diverted profits tax will be charged at 25% and will raise more than £1 billion over the scorecard period.

Stephen Timms Portrait Stephen Timms (East Ham) (Lab)
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The current corporation tax rate is the lowest in the G7 and there are good reasons why that is the case. However, on small business Saturday last weekend, many of us were reminded of the heavy burden of business rates. Would it not be better, instead of reducing the corporation tax rate further, to use the same money to reduce business rates?

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