§ THE LORD CHANCELLORMy Lords, I beg leave to introduce a Bill the Short Title of which deals with capital allowances. It is a partial consolidation of the Finance Acts. I say this because the Long Title is perhaps not as self-explanatory as they usually are. It is as follows: A Bill to consolidate Parts X and XI of the Income Tax Act 1952 with related provisions in that Act and subsequent Acts, but without the provisions of the said Part X relating to patents or to agricultural estate management expenditure which is not capital expenditure. I beg to move that this Bill be now read a first time.
§ Moved, That the Bill be now read 1a—(The Lord Chancellor.)
§ On Question, Bill read 1a, and to be printed.
EARL ST. ALDWYNMy Lords, I should like, if I may, to congratulate the Chief Whip on getting so many Bills to start in this House so early in the Session.
§ LORD BESWICKMy Lords, may I thank my opposite number for those fraternal greetings? I only hope that those good words now are not to be balanced by something else later on.