§ Sir B. Rhys Williamsasked the Chancellor of the Exchequer if it is intended that hotel development expenditure should be accorded the same treatment for tax purposes as other development of an industrial nature.
§ Mr. Patrick JenkinThe new allowances which enable 60 per cent. of the expenditure to be written off for tax purposes in the first year and 25 per cent. of the reducing balance in later years apply to hotel equipment in the same way as to other plant and machinery. Hotel buildings, like other commercial buildings, do not qualify for tax allowances.
340WAfter March, 1971, hotels will be eligible for assistance under the Local Employment Acts on the same basis as other service industries; that is, for new projects coming into the Development Areas which provide 50 additional jobs.