§ 32. Mr. J. Johnsonasked the Minister of Agriculture the capital investment in the agricultural industry for each of the years 1952, 1953, and 1954, respectively; and what steps he is taking to encourage further investment.
Mr. AmoryGross investment in agricultural equipment and buildings in Great Britain is estimated to have been £80 million, £83 million, and £88 million for 1952, 1953, and 1954, respectively. Government encouragement includes the investment allowances for machinery, plant and buildings introduced at the last Budget; recent determinations of farm price guarantees, which recognised the need of farmers for additional resources; and the agricultural capital allowances for landowners given in Section 314 of the Income Tax Act, 1952.