§ Mr. Adleyasked the Chancellor of the Exchequer what he estimates would be the annual cost if capital allowances were made available on new hotel construction, taking the rate of applicable allowances as the average rate pertaining in the other EEC countries, and defining a hotel as in the Development of Tourism Act 1969.
§ Mr. Denzil Davies, pursuant to his reply [Official Report, 4th July 1977; 24W Vol. 934, c. 402–3], gave the following information:
Because of the variety and complexity of tax systems in the different EEC countries it is not possible to construct a meaningful average of the rates of depreciation and other capital allowances for hotels.