§ Mr. BrightTo ask the Chancellor of the Exchequer what is the average period for companies to receive repayment of tax from elections under section 177(2) of the Income and Corporation Taxes Act 1970.
§ Mr. Norman LamontInformation is not available centrally. The repayment period will vary depending upon
Total BES investment per company in each year 1983–84 1984–85 1985–861 Companies Amount £ million Companies Amount £ million Companies Amount £ million up to £100,000 495 15 527 15 440 12 £100,000—£250,000 118 19 159 25 110 17 £250,000—£500,000 58 20 59 20 54 18 £500,000—£1 million 32 20 33 22 30 22 over £1 million 12 31 29 66 36 88 Total 715 105 807 148 670 157 1 Provisional. Final results for 1985–86 are expected to show a slight increase on those quoted above.
§ Mr. BrightTo ask the Chancellor of the Exchequer what assessment he has made of the contribution of the relief given to companies raising over £1 million in equity under the business expansion scheme towards stimulating the development of small businesses; and if he will make a statement.
§ Mr. Norman LamontAn assessment of the contribution made by the business expansion scheme towards stimulating the development of small businesses is contained in the Peat Marwick report which was published in March 1986; a copy of which is available in the House of Commons Library.