§ Mrs. SpelmanTo ask the Chancellor of the Exchequer whether the tax exemptions for research into diseases of the developing world announced in the 2001 Budget will include African trypanosomosis. [25263]
§ Mr. BoatengThe Chancellor announced consultation on a new tax credit to stimulate research into the development of vaccines and drugs to combat malaria, TB and strains of AIDS/HIV most prevalent in the developing world in Budget 2001. During the consultation period, a number of other diseases—including trypanosomosis—were suggested as suitable candidates for the proposed new tax credit. All such suggestions have been fully considered and an announcement on the scope of the proposed tax credit will be made in Budget 2002.
Companies undertaking research into trypanosomosis will be eligible for either the relief for research expenditure by small and medium sized companies (SMEs) introduced in Finance Act 2000 or for the new relief for research expenditure by companies other than SMEs to be introduced in Finance Bill 2002.