§ Mr. Hordernasked the Chancellor of the Exchequer if he will list the value of all allowances made to companies each fiscal year since 1970 to the latest convenient date, and including any forecast for the current year, such allowances to include stock appreciation provisions. 557W first year allowances, regional allowances and grants.
§ Mr. Robert SheldonThe estimated value in terms of tax of stock relief and capital allowances due to companies for the last five years is as follows:
£ million Capital Allowances AP's ending in financial year Stock Relief All First-year 1970–71 … — 950 75 1971–72 … — 1,275 625 1972–73 … — 1,750 1,025 1973–74 … 1,070 2,700 1,750 1974–75 … 2,550 3,150 2,225 The estimates are of the tax equivalent of the reliefs due for any year, regardless of whether companies had sufficient profits in that year to take advantage of them. Generally, reliefs affect tax payable in the following or a subsequent year.
Questions relating to assistance to industry including investment grants and regional assistance are a matter for my right hon. Friend the Secretary of State for Industry.