§ Mr. MandelsonTo ask the Chancellor of the Exchequer (1) if he will estimate the cost of tax relief for BES in the years 1992–93 and 1993–94 for schemes involving private housing where individuals obtain loans connected with the shareholdings they acquire through BES;
(2) if he will estimate the total cost of tax relief for business expansion schemes in the years 1992–93 and 1993–94, with the cost in each year of relief involving private rented housing.
§ Mr. Dorrell[holding answer 14 June 1993]: The provisional estimate of the total cost of income tax relief for 1992–93 is £380 million. The cost for 1993–94 will depend on the levels of business expansion scheme investments and is very tentatively estimated at about £180 million. It is not possible at present to provide a reliable subdivision of these estimates by type of investment, though information published in the specialist press about loan-linked investments in 1992–93 imply that these may amount to some £250 million of revenue cost.