§ Mr. MorganTo ask the Secretary of State for Wales what is his most up-to-date estimate of the increase in corporation tax receipts arising from the switch away from tax-free regional development grants to taxable selective assistance.
§ Mr. Peter WalkerThe tax position of regional selective assistance applicants is likely to vary widely depending on the circumstances of each company. It is not possible therefore to make any reliable estimate of the tax receipts which may arise from present or potential applicants for regional selective assistance.
§ Mr. BlairTo ask the Secretary of State for Wales if he will estimate the amount of regional selective assistance to be paid out in Wales for each year from 1988–89 to 1990–91.
§ Mr. Peter WalkerThe 1988 public expenditure White Paper contained planned provision for regional selective assistance in Wales of £45.9 million, £52 million and £61.2 million respectively in the three years 1988–89 to 1990–91. The increase in provision between the years reflects additional demand for RSA, which I envisage as a result of the ending of the regional development grant scheme. There will be a further substantial contribution to regional 323W assistance in Wales as a result of the substantial increase in the expenditure of the Welsh Development Agency and the new investment, innovation and business development grants scheme.