§ Mr. Costain
asked the Secretary of State for the Environment by how much the value of new private industrial building work fell in 1971; and what effect he anticipates that the measures contained in the Budget statement will have on work load for this type of construction in 1972.
§ Mr. Eyre:
Measured at constant 1963 prices, new private industrial building work fell by 6 per cent. in 1971 compared with 1970. The measures contained in the Budget Statement, particularly the extension to the country as a whole of 40 per cent. initial allowances for new buildings and free depreciation for plant and machinery, the introduction of regional development grants, and the changes in the boundaries of the assisted areas, provide a powerful incentive to industrial investment including buildings.