§ 70. Mr. Grimond
asked the Chancellor of the Exchequer the estimated extra cost of the investment allowance year by year.
§ Mr. Boyd-Carpenter
The cost of the investment allowance in future years will depend on the actual level of investment, the way in which it is distributed between assets of different kinds and on the level of taxation then ruling. In these circumstances it might be misleading to attempt to forecast the cost year by year for any lengthy period. I may say, however, that at the present level and pattern of investment and rates of tax I expect the additional cost, as compared with that of the present initial allowances, to rise to about £30 million in 1959–60.