Capital Allowances (Corresponding Northern Ireland Grants) Order

HC Deb 29 March 1973 vol 853 c375W

Mr. Pounder

asked the Secretary of State for Northern Ireland what he estimates to be the financial effect of the Capital Allowance (Corresponding Northern Ireland Grants) Order 1972 for the revenue and for Northern Ireland industry in a full year.

Mr. David Howell

Under the Capital Allowances (Corresponding Northern Ireland Grants) Order 1973, the value of the grant plus tax benefits—discounted at 10 per cent.—per £100 of qualifying expenditure on plant and machinery for a firm making sufficient profits to benefit in full is estimated to be £63 compared with £53 if the order did not apply. The comparable figures for expenditure on a new building are £53 and £46. Estimates of the financial effect for the revenue and for Northern Ireland industry as a whole are not available.