Sir,—In today's edition (May 3) of the Business News, you publish as a graph some figures on company profits taken from the reply to a question addressed to James Callaghanthe Chancellor of the Exchequer. They show that taxes paid by companies fell as a percentage of gross trading profit from 45 per cent in 1952 to 15 per cent in 1965. Through your column, I should like to thank the Chancellor for this wonderful testimonial to 13 years of Conservative government.
Margaret H. Thatcher.
House of Commons, S.W.1.