§ Dr. Lynne JonesTo ask the Chancellor of the Exchequer what is the(a) total and (b) yearly level of loan facilities provided by the European Investment Bank to the United Kingdom since 1993; and what are the corresponding figures for each other EU member state. [38889]
§ Mrs. LiddellThe table shows the total finance contracts signed (including individual and global loans) for the UK and other EU Member States for each year from 1993–1997 and in total.
§ Dawn PrimaroloThe tax regime provides that only those expenses which are revenue, not capital, in nature and which are incurred wholly and exclusively for business purposes may be allowed as a deduction when calculating trading profits for tax purposes. The Inland Revenue view is that an in-house or contracted out software project to ensure that existing systems can be 623W adapted for the millennium will always be a revenue matter unless it is part of a major new project instituting other changes and the project is of a capital nature. Small and medium businesses will benefit from the accelerated first year allowances announced by the Chancellor of the Exchequer in his Budget.