§ Mr. Hillasked the Chancellor of the Exchequer if he will take steps to reintroduce investment incentives to British shipowners who wish to retain their fleet under the British flag.
§ Mr. MooreWe brought forward amendments to the Finance Bill on Report to allow more flexible use of capital allowances. In particular, we introduced a system of "free depreciation" in respect of writing down allowances which applies only to new ships. This recognises the special position of the shipping industry.