To ask the President of the Board of Trade if he will amend the Industrial and Provident Societies Acts to increase the limit on shareholding to £50,000 to facilitate higher levels of capital formation. [9948]

I have been asked to reply.The shareholding limit for industrial and provident societies was doubled to £20,000 in 1994. Since then, there has been little demand from the movement for a further increase and the Government have no current plans to review the existing level.