HC Deb 26 November 1987 vol 123 cc373-4
15. Mr. Nicholas Bennett

To ask the Chancellor of the Exchequer what are the latest figures for the rate of new company registrations; and at what rate these have grown since 1979.

Mr. Brooke

Between the end of 1979 and the end of 1986 the net number of United Kingdom businesses registered for VAT is estimated to have increased on average by 500 per week. Early indications suggest that the rate of increase in 1987 has been greater than that.

Mr. Bennett

Does my hon. Friend agree that that is excellent news, which means that jobs will continue to increase and unemployment will continue to fall?

Mr. Brooke

I wholly concur with my hon. Friend. The creation of new companies registered for VAT has been mirrored by the fall in unemployment.

Mr. Hanley

Does my hon. Friend also agree that the number of companies being removed from the register because of liquidations has fallen this year for the first time in many years and that the economy therefore must be in the healthiest shape for many years?

Mr. Brooke

I am delighted to report to the House that bankruptcies, like unemployment, have been falling.