§ 84. Mr. T. Fraserasked the President of the Board of Trade what is the total capital investment in factory buildings on Scottish industrial estates; and what is the annual income from rents for these factories.
§ Mr. N. MacphersonAt 31st March, 1960, the value of the Board of Trade's160W industrial property in Scotland was £22,349,166; income from rents in 1959–60 was £1,111,645.
§ 85. Mr. T. Fraserasked the President of the Board of Trade if he is aware that the rents determined by the Inland Revenue Valuation Department for Scottish industrial estate factories are substantially in excess of the net annual values as determined by the local assessors appointed under the Valuation and Rating (Scotland) Act, 1956; and whether, to remove suspicion of bias against industrial estate tenants, he will invite the Inland Revenue Valuation Department to reconsider the rents fixed for these factories.
§ Mr. N. MacphersonMy right hon. Friend is aware that some current rents of Board of Trade factories in Scotland are in excess of net annual values determined by local assessors, but many rents under existing leases are lower. He therefore sees no reason to ask that the rents should be reconsidered.