§ Mr. Nicholas Wintertonasked the Chancellor of the Exchequer whether the Government have any plans to introduce any tax advantages for worker co-operatives, such as exist in France and Italy.
§ Mr. RidleySocieties registered under the Industrial and Provident Societies Act 1965 enjoy certain tax advantages similar to those in France and Italy. For example, such societies pay corporation tax at the lower rate of 40 per cent., do not pay advance corporation tax and are allowed to deduct payment of dividend on co-operative shares before calculating taxable income.