§ Mr. Nicholas Bakerasked the Chancellor of the Exchequer how many applications have been received to set off investment in new small companies against income tax under the business start-up scheme; how much money has been invested in small firms in this way during the past two years; and if he is satisfied with the results of this scheme to date.
§ Mr. RidleyClaims for tax relief under the business start-up scheme cannot be made until after the end of the tax year in which the shares were issued, and in some cases even later if the company is not already trading. It is, therefore, too soon to have precise information about investments made even in the first year of the scheme. But the approved investment funds are reported to have raised some £12 to £15 million for investment in start-ups and the scheme seems to be gathering momentum.