Under Labour, income tax receipts went up massively, while corporation tax receipts stayed almost flat. Labour were obsessed with courting big business and allowed corporate tax avoidance on an industrial scale. I made this point in the debate on tax avoidance.
Charlie: Is the Minister aware that in the years up to 2010, income tax receipts rose by 81%, while non-oil corporation tax receipts rose by 6%? Does he agree that an industrial-scale tax-avoidance culture arose, fanned by the prawn cocktail offensive, whereas this Government's actions have helped to close the tax gap?
David Gauke (Financial Secretary): As a Government, we believe in low and competitive rates of corporation tax, but we also believe that those taxes should be paid. That is why we have strengthened the capacity of HMRC, why we are introducing the diverted profits tax, and why we are leading the way in international reforms of the corporate tax system.
It has been an honour and privilege to serve as Member of Parliament for Dover & Deal. I hope to be re-elected to serve our community for another term.
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