§ Mr. SteelTo ask the Chancellor of the Exchequer if he will make it his policy to provide more information to the public about the tax reliefs available for share-based profit-sharing and about profit-sharing generally.
§ Mr. LawsonThis Government continue vigorously to promote awareness of the benefits of increased profit-sharing, whether in the form of employee share schemes or cash-based schemes. These efforts include the publication and dissemination by the Inland Revenue of a variety of leaflets and booklets providing information about the tax reliefs which are associated with schemes approved or registered under the Finance Acts of 1978, 1980, 1984 and 1987.
The success of this publicity is indicated by the growing popularity of these schemes. More than 1,400 all-employee share schemes have now been approved covering well over 10,000 companies; and 430 profit-related pay schemes, covering over 70,000 employees, have already been registered under the provisions of the Finance (No. 2) Act 1987.