asked the Minister for Finance the cost of preference share financing in terms of tax foregone for each of the years 1983, 1984 and 1985; the number of companies with preference shares issued to employees and the total number of employees; and the total value of preference dividends paid to employees during 1983, 1984 and 1985.
Written Answers. - Preference Share Financing.
253.
Preference share financing has been largely replaced by section 84 loans in recent years as a source of tax-related lending. Sufficient information is not available to allow separate estimates to be made of the cost of each of these items for the years in question. The latest figures available for the total cost of both items are:
|
Year |
£ million |
|
1983 |
73 |
|
1984 |
86 |
|
1985 |
100 (Provisional) |
It is considered that a minor portion only of these cost estimates is referable to preference share financing. Statistics are not available which would enable the other information requested by the Deputy to be compiled.