§ 67. Mr. John Hallasked the President of the Board of Trade what amount of Purchase Tax was raised in respect of the Formula One Grand Prix cars in the financial year 1960–61; and what amount he anticipates raising from this source in the current financial year.
§ Mr. N. MacphersonThe amount of Purchase Tax paid on motor racing cars is not separately available. Arrangements have existed for refunding purchase tax paid on certain types of racing cars and the amount refunded in respect of Formula One Grand Prix cars in the financial year 1960–61 was £48,006. Provision has been made in the Board of
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ASSISTANCE UNDER THE LOCAL EMPLOYMENT ACT Section 2 Number Area sq. ft. Estimated Cost Estimated employment £ Factories and extensions approved 26 413,000 1,180,000 2,470 Sections 3 and 4 Offers of assistance Estimated employment Number of applications Number Amount £ Loans and grants 49 14 433,000 2,350 Trade Estimates for payments of £50,000 in the current financial year in respect of Formula One and Intercontinental Formula cars.