Finance (No. 3) Bill

When we originally wished to discuss these matters, we looked into that point, because the corporation tax cut is clearly linked to clause 10, which is about the proposed cuts to plant and machinery writing-down allowances. We will come on to that at a later stage, possibly this evening or possibly tomorrow—who knows? Those matters are inextricably linked. We wish to explore the impact of the corporation tax cut because we want to hear clearly from the Minister how, where, in what sectors and when he expects it to have the impact that he wants. If we are forgoing a considerable amount of tax revenue, we are presumably doing so because we believe it will help to grow the private sector. I need to know from the Minister this evening, or whenever we hear from him, which sectors he believes are under threat; which ones he believes will particularly benefit from the corporation tax cut; which ones would have left the UK had the corporation tax cut not been introduced; which ones will be attracted to the UK because of the lower corporation tax; and how the change fits into the wider growth strategy of training, investment, university education, public sector investment, skill development, innovation and the development of products for us to manufacture and sell to the world at large.