§ Mr. Viggersasked the Chancellor of the Exchequer what would be the estimated cost in tax revenue lost in a full financial year of increasing the initial first-year accelerated depreciation allowances on all new commercial and industrial buildings to the 100 per cent, level which already applies to investment in plant and machinery, both at 1980–81 outturn prices and at estimated 1981–82 outturn prices.
§ Mr. Peter Rees[pursuant to his reply, 1 December 1980]: I regret that figures are not available in the precise 47W form requested, but if the total value at current prices of expenditure on new industrial and commercial buildings remained constant at its 1980 level the cost in a full year is estimated to be of the order of £1½ billion, on the assumption that in the hypothetical "full year" sufficient profits arc available to absorb the allowances in full.