§ Mr. Malcolm BruceTo ask the Chancellor of the Exchequer what is his estimate of the revenue loss to the Exchequer in(a) 1997–98 and (b) 1998–99 from tax reliefs on venture capital trusts. [12790]
§ Mr. JackTotal tax relief for venture capital trusts is tentatively estimated to cost about £50 million for 1997–98. The cost for 1998–99 is not available, but would depend on future levels of take-up and rates of investment return.