§ Brought up, and read the First time.1084
§ Madam Speaker
With this, it will be convenient to discuss also Government amendments Nos. 63 and 64.
§ Mr. Jack
During the Committee's debates on shipping, I said that the Government were not opposed in principle to extending rollover relief for balancing charges arising on ships across groups of companies. We had discussions with the shipping industry, and we made rapid progress. I am pleased to be able to say that we reached agreement on the matter, and I commend new clause 16 to the House.
§ Mr. David Hunt (Wirral, West)
I would like to thank my hon. Friend the Financial Secretary and congratulate all those involved on some speedy work. I pressed my hon. Friend to try to ensure that the work was done in time for this Finance Bill, and that has been done. I am sure that the measure will overcome a number of anomalies, and will enable a number of investment decisions to be made that might otherwise not be made, or perhaps might not be so well-timed.
My hon. Friend will know that I have raised a number of other matters on behalf of the shipping industry, an industry that is vital to the future of this country. I am grateful to him for agreeing that further meetings can take place, so that we can explore a number of other matters further.
§ Question put and agreed to.
§ Clause read a Second time, and added to the Bill.