§ Mr. Skeetasked the Secretary of State for Industry, what is his estimate of the extent to which income and capital taxes have (a) stultified the growth of small and medium-sized companies and (b) discouraged the formation of new such businesses in the United Kingdom.
§ Mr. CryerThere is no evidence to support the suggestion that the formation and growth of small and medium-sized companies, which is influenced by a wide variety of factors, has been adversely affected by current taxation provisions, containing as they do generous allowances for capital expenditure and several reliefs of direct and indirect benefit to all kinds of small and medium-sized firms.
§ Mr. Skeetasked the Secretary of State for Industry if he will set up a study, in the interest of promoting United Kingdom industry, to examine to what extent small firms have contributed to the achievements of high economic growth rates in the United States of America, Japan and the Federal Republic of Germany.
§ Mr. CryerThe promotion of United Kingdom industry is best served by the work on industrial strategy that is being carried out within the framework of the National Economic Development Council, and which has regard for international comparisons where they are appropriate.