§ Mr. GaleTo ask the Chancellor of the Exchequer what proposals he has to stimulate investment in and expansion of small business; what consideration he has given to allowing the retention of profits for the purpose of investment in and the expansion of small businesses; and if he will make a statement. [53124]
§ Mr. Byers[holding answer 28 July 1998]: The Government announced in the Comprehensive Spending Review that they will refocus business support programmes to promote innovation and enterprise, with a particular emphasis on small and medium-sized enterprises that have the potential for high growth.
The Government said in the last Budget that they will continue to examine how best to create an environment which encourages investment by small and medium-sized businesses. This includes reviewing the case for continuing with enhanced capital allowances.
§ Mr. GillTo ask the Chancellor of the Exchequer what measures he will take to ensure that the tax take on small businesses is redistributed to provide incentives for the retention of earnings for investment. [54941]
§ Dawn PrimaroloI cannot anticipate my right hon. Friend's Budget Statement.
§ Mr. GillTo ask the Chancellor of the Exchequer what assessment he has made of the extent of tax barriers to long-term investment in small companies. [54940]
§ Dawn PrimaroloThe Capital Gains Tax regime encourages long-term investment in all companies, irrespective of their size.