HC Deb 03 April 1985 vol 76 c674W
Mr. Alton

asked the Chancellor of the Exchequer what was the total number of individual taxpayers to benefit by gaining tax relief under the business expansion scheme in 1983–84; and what was their average investment.

Mr. Moore

Almost 20,000 taxpayers made investments under the scheme in 1983–84. The average investment was about £5,000.

Dr. McDonald

asked the Chancellor of the Exchequer if he will provide an estimate of the number of new jobs created by the business expansion scheme since its inception; and what is the cost of each new job created in this way.

Mr. Moore

[pursuant to his reply, 21 March 1985, c. 604]: Further to my replies of 18 March 1985, at columns 395–96, it is now estimated that in 1983–84 about £100 million was invested under the scheme in over 500 companies. The direct revenue cost of tax relief was about £50 million. It is not possible to estimate how many new jobs were created as a result of business expansion scheme investments, though information about just over 300 of the companies receiving investments indicates that these employ a total of nearly 9,000 people. It is too early to provide information in respect of 1984–85 investments.

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