HC Deb 12 July 1966 vol 731 cc1194-5
9. Mr. J. H. Osborn

asked the Chancellor of the Exchequer how many prosecutions he has made against private and public companies and other corporate bodies for fraudulent claims against Income Tax in connection with investment, initial and annual allowances for buildings and plant and machinery; what were the sums involved; how many prosecutions were successful; and what fines were imposed in total for each of the last five years.

Mr. MacDermot

None, Sir.

Mr. Osborn

Am I not right in saying that the present system of initial allowances and annual allowances has worked effectively? Is the right hon. Gentleman satisfied that the new system we have been debating on the Industrial Development Bill will be wholly effective?

Mr. MacDermot

Yes, Sir—if the hon. Gentleman is referring to the effect of penalties, because there will be similar penalties in respect of both.

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