§ 99. Mr. Awberyasked the Minister of Supply what is the estimated cost of towing the salvaged part of the floating dock from Singapore and breaking it up in this country; and what is the estimated value of the metal to be recovered.
§ Mr. LowNo public funds are involved in towing this dock to the United Kingdom, which is being arranged and paid for by the British Iron and Steel Corporation (Salvage) Ltd., acting on behalf of the steel industry. On arrival, the floating dock will be broken up and the scrap sold to steelworks at the controlled price.
§ Mr. Awberyasked the Minister of Supply, in view of the risk of total loss in towing the salvaged floating dock from Singapore to this country, if he will consider breaking it up in Singapore and sending the steel to this country as a cargo of scrap.
§ Mr. LowI am informed that British Iron and Steel Corporation (Salvage) Ltd.,
Items Yield of Purchase Tax (£ million) 1946–47 1947–48 1948–49 1949–50 1950–51 1951–52 1952–53 (estimated) Cutlery, including spoons, forks, etc. (of non-precious metals) 1.7 2.0 2.1 2.0 1.9 2.0 1.9 Clocks and watches (of precious metals) * 1.2 1.2 1.1 1.1 1.2 1.1 Jewellery and other goldsmiths' and silversmiths' wares 6.3 8.3 6.6 6.7 6.6 7.1 7.0 * Not separately recorded. Changes in rates of Purchase Tax:
The rate of tax on cutlery spoons, forks, etc., of non-precious metal was 33⅓ per cent. during this time except for the period 13th November, 1947, to 8th April, 1948, inclusive, when the rate was 50 per cent. Clocks and watches of precious metals, jewellery and other goldsmiths' and silversmiths' wares have borne tax at the rate of 100 per cent. except for the period 13th November, 1947, to 8th April. 1948, when the rate was 125 per cent.