§ Mr. Stephen Rossasked the Chancellor of the Exchequer why investment relief is not allowed to be retained for a three-year period.
§ Mr. MaclennanI have been asked to reply.
Investment relief is part of the Price Code. The present powers to enforce the code will expire on 31st July 1976 unless extended, and there is no power to extend beyond 31st July 1977 without new legislation.