§ 29. Mr. Templeasked the Chancellor of the Exchequer what would be the estimated cost to the revenue of allowing depreciation at the rate of 10 per cent. per annum to be written off for new commercial buildings.
§ Mr. MacDermotThe cost would rise annually to about £160 million a year, assuming current rates of expenditure.
§ Mr. TempleIs not the Financial Secretary aware that, in view of the enormous increase in building material stocks at present, this might well be a very good way of using an investment grant? If he cannot give an investment allowance, will he consider giving an investment grant for commercial buildings?
§ Mr. MacDermotThat is an entirely separate question and one which the hon. Gentleman should address to my right hon. Friend the President of the Board of Trade.