§ Mr. Foulkes
asked the Chancellor of the Exchequer what is his current estimate of the annual cost of extending capital allowances available under the Industry Act 1972 to commercial premises, including offices, shops and warehouses.
§ Mr. Peter Rees
[pursuant to his reply, 2 March 1981, c. 67]: I assume the hon. Member has in mind capital allowances under the Capital Allowances Act 1968. On the assumption that sufficient profits are available to absorb the allowances in full, the estimated cost of giving these to commercial premises at the rate allowed for industrial buildings would be £725 million in a full year. At recent levels of expenditure this figure would rise to about £1,250 million by the end of the century.