HC Deb 22 March 1917 vol 91 cc2055-6

asked the Chanellor of the Exchequer whether, before essessment of any shipping company for purposes of Excess Profits Tax, depreciation has been allowed by the Government accountants on a ship of as much as 50 per cent.; whether such depreciation is calculated on the basis of the present selling price of ships irrespective of their cost to the companies making the claim; and whether any case has been brought to his notice of an amount being allowed for depreciation in excess of the cost of the ship to its present owners?


I cannot discuss within the limits of an answer to a Parliamentary question the principles governing depreciation allowances, but I am certainly not aware of any case in which such an allowance has reached the figure named. If the hon. Member will give me particulars of any case which he has in mind, I shall be glad to have inquiry made.