§ Mr. Hooleyasked the Chancellor of the Exchequer if he will list in the OFFICIAL REPORT the aggregate value of investment allowances and/or investment grants to private industry in each financial year from 1960–61 onwards, up to and including the estimate for the current year.
§ Mr. Harold LeverThe following estimates for the value of allowances and grants are not comparable. Those for investment allowances relate to the tax relieved by the allowance on the expenditure incurred in accounts ending in the year. Those for investment grants relate to the amounts paid in the year, which are gross in the sense that the capital allowances for tax purposes are restricted to the cost of the assets after deducting the grants.
INVESTMENT ALLOWANCES £ million Year of Investment Investment Allowances 1960–61 169 1961–62 205 1962–63 203 1963–64 264 1964–65 323 1965–66 252 1966–67 139 1967–68 28
INVESTMENT GRANTS Year of payment of grant Investment Grants 1967–68 301 1968–69 (Est.) 360