§ Mr. Loveridgeasked the Secretary of State for Trade and Industry if he will bring up to date and publish in the OFFICIAL REPORT any further changes which have been made on the recommendations of the Bolton Committee of Inquiry on Small Firms since the last list was published on 8th March 1973.
§ Mr. Anthony GrantThe following recommendations should be added to the list published on 8th March 1973:
Management Skills and Advisory Services
(A) Consideration should be given by the Small Firms Division, in consul- 368W tation with other interested organisations, of methods by which the knowledge and experience of retired executives could be used to promote the efficiency and productivity of small business.
Taxation
(A) As a general rule the tax reliefs which are available for pension schemes set up for employees including non-controlling directors should be extended to similar funds for proprietors of unincorporated businesses and controlling directors of close companies.
I can also report further progress with regard to the recommendation for a reduction in the form-filling burden on small firms. Earlier this year a provision was inserted into the 1973 Finance Act which allows basic VAT data to be used for statistical purposes. This will enable many small firms to be exempted from statistical inquiries conducted by the Business Statistics Office and will assist in monitoring the health of the small firms sector without imposing an additional form-filling burden.
My hon. Friend may like to know that the position on individual recommendations is outlined in a booklet which I have placed in the Library of the House.