HC Deb 05 November 1970 vol 805 cc443-4W
Mr. Sheldon

asked the Chancellor of the Exchequer what assumptions have been made in the Table on page 7 of the White Paper on Investment Incentives as to what proportion of the free depreciation is taken in the first year of the asset.

Mr. Higgins

It has been assumed that the total cost of the asset will be written off in the first year.

Mr. Dell

asked the Chancellor of the Exchequer whether he will publish the studies upon which his decision to revert to investment incentives in the form of allowances against tax was based.

Mr. Higgins

No.

Mr. Dell

asked the Chancellor of the Exchequer whether he will publish an annual report on the operation and cost in different industries of the investment incentive system as was done with the investment grants.

Mr. Higgins

No. To provide the breakdown proposed by the right hon. Member would not be practicable except at excessive cost.

Mr. Barnett

asked the Chancellor of the Exchequer what research he has carried out in the field of tax allowances as opposed to cash grants for industrial investment incentives.

Mr. Higgins

The Government's decision to propose the replacement of investment grants by the system of improved tax allowances detailed in Cmnd. 4516 was taken after full study of all aspects of investment incentives, including the views of industry.