HC Deb 25 January 1962 vol 652 c384
10. Mr. Worsley

asked the Chancellor of the Exchequer whether he will make a comprehensive inquiry into the treatment by Revenue authorities in the European Economic Community of replacements of plant and machinery, with a view to making in his next Budget provision to ensure that British manufacturers are in no worse situation in this respect than those of Common Market countries.

Mr. Barber

I have noted my hon. Friend's suggestion for the Budget, although the information I have does not suggest that our system of allowances for new plant and machinery compares unfavourably with the tax allowances in the Common Market countries.

Mr. Worsley

Will my hon. Friend look at this matter more carefully? There is a feeling in industry that in many cases our Continental competitors are much more favourably treated. Will he please look at the matter again?

Mr. Barber

As this is a complicated matter, the best thing I can do is to write to my hon. Friend giving him details which, I hope he will agree, support what I said in my Answer.