HC Deb 10 February 1955 vol 536 cc2037-8
14. Mr. Blenkinsop

asked the Chancellor of the Exchequer whether he will reconsider the depreciation allowances granted on the development of new and extended dry docks, so that the allowances can be calculated on the whole capital cost including excavations.

Mr. H. Brooke

Expenditure on excavation already qualifies for the investment allowance. As regards the ordinary depreciation allowances, my right hon. Friend must await the Report of the Royal Commission on Taxation.

Mr. Blenkinsop

Is the hon. Gentleman aware of the number of important schemes which are either in progress or in contemplation on Tyneside? In view of the very great importance of this work and the fact that Tyneside is the most important shipbuilding and ship-repair centre in the world—

Miss Ward

Hear, hear.

Mr. Blenkinsop

—will the hon. Gentleman not give proper consideration to this matter in time for the Budget?

Mr. Brooke

I fully appreciate the importance of Tyneside, which has been stressed from both sides of the House, but when a Royal Commission is approaching the end of its labours I think it would be a mistake to anticipate its recommendations.