asked the Chancellor of the Exchequer what is the total amount of agreed losses currently available for offsetting profits in respect of liability to corporation tax; and what was the comparable figure 12 months ago.

We estimate that the total of these losses (excluding the public sector) has stood at some £25 billion to £30 billion in recent years and that the amount is now reducing by some several billions of pounds a year. These estimates are extremely tentative.

asked the Chancellor of the Exchequer when he will answer the question about corporation tax from the hon. Member for Colne Valley which was due for answer on 28 January last.

I regret the delay in answering this question. It is being answered today.