Capital Allowances

HC Deb 11 December 1972 vol 848 cc26-7W

Mr. Joel Barnett

asked the Chancellor of the Exchequer what were the total capital allowances agreed by the Inland Revenue in each of the last five years.

Mr. Nott

Capital allowances due to private sector are estimated by the Inland Revenue to be:

	£ million
1967	2,090
1968	2,241
1969	2,405
1970 (provisional)	2,859
1971 (estimated)	4,032

Comparable figures for the public sector are not readily available.

Band of taxable income (£)	Rate per cent.	Full year lost £m.	Proportion attributable to those with incomes less than £2,000*
200	…	…	…	…	…	…	…	15	940	57
								20	740
250	…	…	…	…	…	…	…	15	1,145	56
								20	900
300	…	…	…	…	…	…	…	15	1,330	55
								20	1,050
400	…	…	…	…	…	…	…	15	1,675	53
								20	1,320
*Counting married couples as one unit.