HC Deb 18 October 1973 vol 861 c282W
60. Mr. McBride

asked the Secretary of State for Trade and Industry if, in view of the importance of the small firm to the Welsh economy and the fact that these small Welsh firms depend on retained profits for investment, he will now say what form of capital subsidy will replace the regional employment premium in Wales, when this is phased out in 1974.

Mr. Anthony Grant

There are greater capital incentives, in the form of tax allowances, regional development grants, and selective financial assistance under the Industry Act, than ever before available for small as well as large firms in Wales. As for the phasing out of REP from September 1974, my right hon. Friend the Chancellor of the Exchequer will make a statement in due course.