§ Mr. Michael Marshallasked the Chancellor of the Exchequer how many jobs have been created by the business expansion scheme; and what is the average cost of each job created.
§ Mr. Moore[pursuant to his reply, 1 July 1985, c. 44]: I regret the delay in providing a reply. No official estimate is available of the number of new jobs created as a result of investment under the business expansion scheme. However, some 12,000 people were employed in 495 of the companies in which investment was made in 1983–84: similar information about the other companies, over 100, in which investment was made is not available. The revenue cost of the scheme in that year is estimated at £50 million. It is too early to provide information in respect of 1984–85 investments.
§ Mr. Michael Marshallasked the Chancellor of the Exchequer what is the average failure rate among firms who have received support from the business expansion scheme; and how these figures compare with the average failure rate of small businesses in general.
§ Mr. Moore[pursuant to his reply, 1 July 1985]: I regret that it has not been possible to provide an answer before the summer recess. Therefore, I shall write to my hon. Friend and place a copy of the letter in the Library.
§ Mr. Dewarasked the Chancellor of the Exchequer how many companies in Scotland benefited from assistance under the business expansion scheme in the last year for which records are available; and what proportion of (a) the total number of United Kingdom payments made under the scheme were in Scotland.
§ Mr. Moore[pursuant to his reply,4 July 1985, c. 264]: I regret the delay in providing a reply. The latest estimates are that in 1983–84 investment of just over £100 million was made under the scheme in just over 600 companies. Of these, 51 companies were in Scotland and these companies between them raised £4.6 million under the scheme. Detailed information in respect of 1984–85 is not yet available.