§ 83. Mr. Kenneth Bakerasked the Chancellor of the Exchequer whether he will take steps to extend the textile investment incentives, namely the writing-off of capital expenditure in four years, to the rest of British industry.
§ Mr. Taverne:Depreciation rates for tax purposes depend upon the expected working life of the plant and machinery concerned. The new arrangements for certain textile machinery apply the 25 per cent. rate on the reducing balance basis and do not provide for a write-off over four years.