Although that is true you cannot equally say that cutting it lead to a 20% increase in revenue either. Who is to say that there might not have been a 22% increase in revenue if it hadnt been cut?
Take the company I work for. In that period of cutting we have gone from paying almost zero corporation tax to hundreds of thousands. is that because the rate was cut? No. Would we have paid even more if the rate hadnt been cut? Yes.
As I pointed out in another thread, correlation doesn't necessary mean causation.
There are plenty of other reasons why receipts went up.
"Higher average net profits, less investment, crackdown on profit shifting, banks becoming profitable again as they've used up their financial crash losses ....All reasons why the tax take has risen that have nothing to do with a cut in the rate"
I was just urging caution, that the impact of increases may not have the desired result. After all using taxation to change behaviour is a very common tactic.