§ 7. Sir G. Nabarroasked the Chancellor of the Exchequer whether under his Regulations money grants made under the Agriculture and Horticulture Act, 1964, Part 11(2) and Statutory Instrument, 1964, No. 963, The Small Horticultural Producers' Business Scheme, are assessed by the Inland Revenue free of income tax, surtax, corporation tax and capital gains duty and are not aggregable with trading profits for taxation purposes.
§ The Minister of State, Treasury (Mr. Dick Taverne)These grants reimburse a grower for the expenditure on the relevant programme, so that the expenditure taken into account in computing his tax liability is only the net amount, if any.