§ Mr. Timothy Smithasked the Minister for Trade what response he has received to the Green Paper "A New Form of Incorporation for Small Firms"; whether he now intends to introduce legislation creating a new corporate entity; and if he will make a statement.
§ Dr. VaughanThe Green Paper aroused considerable interest and replies continued to come in well after the closing date. Opinion was fairly evenly divided as to whether a new form of incorporation was required for the generality of small businesses, but there was more support for some form of incorporated partnership with unlimited liability for use by professional firms.
These comments are still being considered.