Pits (Depletion of Minerals)

HC Deb 26 March 1963 vol 674 c1115

37. Mr. Wall

asked the Chancellor of the Exchequer what representations have been made to him that the depletion of minerals in pits, etc. should be allowed for tax purposes.

Mr. Maudling

I have had representations on this matter from the Federation of British Industries, the Sand and Gravel Association of Great Britain, the Association of Certified and Corporate Accountants and the Income Tax Payers' Society.

Mr. Wall

Is my right hon. Friend aware that this principle was accepted by the Royal Commission in 1955? Since then, on a number of occasions the Government have stated that they have had the matter under consideration. May we expect a final decision some time this year?

Mr. Maudling

I cannot say more now than that there is obviously great interest in this problem.