§ 24. Mr. D. Smithasked the President of the Board of Trade if he will reconsider his decision not to include formula junior cars in his scheme for the remission of Purchase Tax on racing cars during the financial year 1961–62.
§ Mr. N. MacphersonNo, Sir.
§ Mr. SmithIs my hon. Friend aware that since I first raised this matter with him it has taken just over a year for his 1115 Department to reach a negative conclusion? Is he further aware that the various manufacturers of these vehicles have to go on producing in kit form so as to try to avoid Purchase Tax and that this is causing considerable inconvenience both to the manufacturers and to the buyers? Will he not in all conscience look at the matter again?
§ Mr. MacphersonMy right hon. Friend gave very careful consideration to this matter, which is part of the reason for the lapse in time, but he sees no reason to double the financial provisions so as to include junior formula cars which have been racing successfully for some time without the benefit of this concession.