§ 8. Mr. Stevensasked the Chancellor of the Exchequer if he will take steps to establish a tax-free area in London Docklands.
§ Mr. BrittanI am not persuaded that there would be any advantage in setting up a tax-free area in London Docklands. The other initiatives that we are pursuing there will be more fruitful. The London Docklands Development Corporation is beginning to make its mark in the area. The enterprise zone at the Isle of Dogs is expected to come into operation next month. That will offer a number of tax concessions and is already attracting considerable interest.
§ Mr. StevensIn view of the unique nature of London Docklands, is my right hon. and learned Friend satisfied that the measures that have been taken to encourage industry into Docklands and into the enterprise zone will work quickly enough to take full advantage of this splendid opening?
§ Mr. BrittanI hope that they will, although they are very much in their infancy. Clearly, we shall want to watch closely whether they make the impact that we hope they will.