§ Mrs. Peacockasked the Secretary of State for Trade and Industry if he has any plans to introduce legislation to amend the Companies Act 1985 to oblige limited 244W companies to publish their yearly expenditure on research and development in their annual results; and if he will make a statement.
§ Mr. HowardI support disclosure in company accounts of expenditure on research and development as likely to increase awareness of its importance to the economy. However, I have no present plans for legislation on the matter as the Accounting Standards Committee is currently undertaking work on producing a statement of standard accounting practice which would require disclosure of such expenditure in company accounts.