Investment and Initial Allowances

HC Deb 12 April 1960 vol 621 c113W

59. Mr. Nabarro

asked the Chancellor of the Exchequer what is the estimated cost to the revenue of investment allowances, and initial allowances, respectively, during the year 1960–61.

Mr. Amory

The cost to the Revenue in 1960–61 of investment allowances is estimated at £90 million. The gross cost to the Revenue of initial allowances is estimated at £95 million, but the effect will be that smaller annual allowances will be given in subsequent years.

		Period	Capital Expenditure	Exchequer Borrowing
			£m.	£m.
Electricity Council	…	1958–59 to 1964–65	2,130	1,150
North of Scotland Hydro-Electric Board	1958 to 1964	137	135
South of Scotland Electricity Board	…	1958 to 1964	165	105
National Coal Board	…	1960 to 1965	511	160
Gas Council	…	1959–60 to 1965–66	370	123
B.OAC	…	1960–61 to 1963–64	83	20
BE.A	…	1960–61 to 1963–64	62	35
The British Transport Commission's plans are under review.