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The tax charge for the 2006 financial year was £492 million and comprised a charge of £533 million on the profit before taxation and specific items, offset by tax relief of £41 million on certain specific items. The tax charge for the 2005 financial year was £525 million and comprised a £541 million charge on
the profit before tax and specific items, offset by tax relief of £16 million on certain specific items. The tax charge on the profit before taxation and specific items is at an effective rate of 24.5%. This reduction in the effective rate from 26.0% in the 2005 financial year reflects the continued improvements in
the tax efficiency of the group.
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