§ 39. Mr. Bryant Cadman Irvineasked the Minister of Agriculture, Fisheries and Food what is his information about the effect of capital transfer tax on plantings by the forestry industry by August 1975 and the comparison with the 1974–75 planting season.
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§ Mr. StrangOfficial figures to enable comparisons to be made between plantings by the private sector in 1974–75 and the current year will not be available until after the end of the present financial year. The indications are that private woodland owners have done less planting this year than in recent seasons but it should not be assumed that this is entirely due to the effects of taxation. The reduction may partly be accounted for by the general economic situation. In any event, the relief from Capital Transfer Tax to private woodland owners in Schedule 9 to the Finance Act 1975 is designed to maintain an adequate level of planting.