§ Mr. Arnoldasked the Minister of Agriculture, Fisheries and Food what plans he has to encourage investment in privately-owned commercial woodland.
§ Mr. BishopIn accordance with the Government's aim of encouraging private 423W forestry as announced by my hon. Friend the Minister of State, Treasury, on 30th March 1977—[Vol. 929, c. 163–166.]—new measures were introduced on 1st October 1977 which substantially increased the level of grants to private woodland owners. The Government have also introduced new arrangements for forestry in connection with capital transfer tax relief for woodlands under Schedule 9 to the Finance Act 1975. These remove the condition that woodlands should be the subject of a Forestry Commission dedication scheme and extend business relief to deferred charges under that schedule.