§ 20. Mr.GunnellTo ask the President of the Board of Trade what was the level of Government financial assistance to small businesses in each year since 1990–91, expressed in 1990 prices; and if he will make a statement.
§ Mr. HeseltineGovernment provides assistance for small businesses in many ways. Interest rates are at their lowest level since 1978 and are the lowest in the European Community. Inflation has been below the EC average for over a year. We have one of the most favourable corporation tax structures in the major industrialised countries. We have increased capital allowances to bring forward investment. In addition, specific help provided by the Department of Trade and Industry, the Department of 249W Employment and the Scottish and Welsh Offices, including assistance provided via training and enterprise councils, local enterprise companies and other agencies, was £302 million in 1990–91, £292 million in 1991–92 and a planned £277 million in 1992–93, expressed in 1990 prices.