§ Mr. Ginsburgasked the Chancellor of the Exchequer what decision the Government have reached regarding the application by the wool textile delegation to the Inland Revenue for an increase in the annual depreciation allowance to 25 per cent. for textile machinery used in the wool textile industry and worked for three shifts.
§ Mr. Patrick JenkinThe Inland Revenue has agreed that for the year of assessment 1969–70 onwards—or for accounting periods ending after 5th April, 1969—the annual writing-down allowance for textile machinery employed on three-shift working in the wool textile industry shall be inceased to 25 per cent. on the reducing-balance basis.