§ Dr. McDonaldasked the Chancellor of the Exchequer if he will publish the study of the business expansion scheme, commissioned by the Treasury and undertaken by Peat, Marwick and Mitchell.
§ Mr. Moore[pursuant to his reply, 3 June 1985]: I intend to publish results from this study in due course. Messrs. Peat, Marwick and Mitchell is due to submit its final report by end October of this year.
§ Dr. McDonaldasked the Chancellor of the Exchequer if he will list the categories of companies benefiting from the business expansion scheme in 1983–84 and 1984–85; and if he will give the number of companies in each category.
§ Mr. Moore[pursuant to his reply, 3 June 1985]: It is estimated that at least £100 million was invested under the business expansion scheme in 1983–84 in more than 500 companies. Detailed information is currently available about 397 of these companies. The table analyses them into broad trade group. It is too early to provide similar information about 1984–85 investments.
Companies receiving investments in 1983–84 by broad trade group Trade Number Manufacturing 156 Service industries 112 Wholesale and retail distribution 79 Construction 23 Agriculture, horticulture and fishing 10 Others 17 Total 397
§ Dr. McDonaldasked the Chancellor of the Exchequer if he will publish an analysis in the Official Report of the average rate of tax relieved by the deductions under the business expansion scheme.
§ Mr. Moore[pursuant to his reply, 3 June 1985]: The average rate of tax relief for investments under the business expansion scheme in 1983–84 was about 50 per 113W cent. Figures are not yet available for 1984–85. An analysis of marginal tax rates of BES investors in 1983–84 is as follows:
Marginal income tax rate* Per cent. Percentages of investors 30 10 40–55 35 60–70 30 75 25 Total 100 * Including the investment income surcharge, where appropriate.