§ Mr. Wareingasked the Secretary of State for the Environment what has been the cost to the Government of the enterprise zone in Liverpool for each year since its inception, giving the percentage change in each year.
§ Sir George YoungThe only enterprise zone measure for which the cost to the Government of this enterprise zone can be accurately assessed is the exemption from rates. The figures show the position for each financial year since the zone's designation on 25 August 1981.
Financial Year Amount £ Change 1981–82 516,244 Nil 1982–83 546,480 +6 per cent. 1983–84 936,110 +71 per cent. Consultants monitoring the early years of the enterprise zone experiment estimated the cost of the tax relief on capital expenditure on industrial or commercial buildings in respect of firms in the Speke enterprise zone as follows:
Financial Year Amount £ Change 1981–82 311,000 Nil 1982–83 38,000 -88 per cent. The zone has also benefited from expenditure on the provision of a sewer in the area, the total cost of which since 1982 has been £940,000; it is estimated that some 20 per cent. of the area serviced lies within the enterprise zone.