§ Mr. Charles Irvingasked the Chancellor of the Exchequer whether, in view of the employment and investment implications of any delay, he will give approval for new funding under the existing business startup scheme, pending enlargement of the scheme in the Finance Bill.
§ Mr. RidleyUntil the Finance Bill becomes law any consideration of applications to set up new funds under the existing legislation can only be provisional, because they will need to comply with the requirements of the new business expansion scheme and Parliament may see fit to amend the Bill. The Inland Revenue will be able to consider applications for formal approval of funds set up under the new scheme as soon as the Finance Bill has become law, and will meanwhile give every assistance to those contemplating setting up such funds.
Schemes complying with the business start-up scheme could be approved if for any reason the proposals in the Finance Bill did not become law.