Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if he will publish the calculations by which an estimate of £2.11bn of revenue in 2024-25 from implementation of the global minimum corporate tax reforms was arrived at.

The number of Multinational Enterprises which have headquarters in the UK is 387. The latest information can be found in https://www.oecd.org/tax/tax-policy/corporate-tax-statistics-fourth-edition.pdf. The number of multinational enterprises which have operations in the UK, but are headquartered outside of the UK is 4,000.

The process for estimating the Exchequer yield from implementation of Pillar 2 policy in the UK can be found in the Autumn Budget 2022: Policy Costings, available here: https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1118364/Autumn_Statement_2022_Policy_Costings_.pdf.