Small and Medium-sized Enterprises

HC Deb 20 July 2000 vol 354 c310W

27. Mr. Casale

To ask the Chancellor of the Exchequer what steps he is taking to promote the competitiveness of small and medium-sized enterprises. [130155]

Mr. Timms

Since 1997, the Government have cut the average corporation tax bill for small companies by nearly 25 per cent., transformed the capital gains tax system and introduced enhanced capital allowances, including 100 per cent. capital allowances for investment by small companies in ICT equipment.

The Spending Review builds on this by substantially increasing the resources available to the Small Business Service and Regional Development Agencies. This represents a comprehensive approach to improving the climate for enterprise and innovation.