§ Mr. Elystan Morgan
asked the Chancellor of the Exchequer what is his estimate of the saving to public funds in Wales in 1971 of substituting investment allowances for investment grants on the assumption that there would have been the same amount paid in respect of investment grant as was paid in 1969.
§ Mr. Higgins
Investment grants were replaced as from 27th October, 1970, by452W improved capital allowances for investment in machinery and plant. As I told the hon. Member on 2nd February last, it is not possible to apportion corporation tax revenue or the value of capital allowances by regions. In any case substantial Exchequer savings from the ending of investment grants are not expected to arise before 1972.