Finance Bill

Part of the debate – in the House of Commons at 3:39 pm on 6 May 2003.

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Photo of Mr Paul Boateng Mr Paul Boateng Chief Secretary, HM Treasury, The Chief Secretary to the Treasury 3:39, 6 May 2003

That is not a fair or accurate analysis. Allowances are available to the self-employed in partnerships, and those are of assistance. The package of reforms to improve small business access to finance, the consultation on the scope for introducing small business investment companies in the UK, the improvement to the research and development tax credits and the package of deregulatory reform for small businesses have all benefited small businesses. Although there is no room for complacency, small businesses have probably been helped more than anything by low interest rates and the stability that has resulted from the policies adopted by my right hon. Friend the Chancellor. All that would be put at stake were some of the wilder fantasies of the nationalists given their head. However, the signs from recent elections are that that will not happen.