HC Deb 29 October 1996 vol 284 c62W
Mrs. Dunwoody

To ask the Chancellor of the Exchequer if he will introduce improved tax incentives for United Kingdom ship owners to invest in new tonnage; and if he will make a statement. [68]

Mr. Jack

We have introduced valuable tax measures to promote investment in new tonnage in the form of roll-over relief for capital allowances balancing charges on the sale and purchase of ships. This was extended to groups of companies in last year's Budget and has been warmly welcomed by the UK shipping industry.

The Government are of course, always willing to consider representations from the shipping industry about any particular difficulties it faces.