§ Sir William Clarkasked the Chancellor of the Exchequer what information he has as to the annual pattern of capital allowances arising over a 10-year period for each £100 million of investment in British owned merchant ships under the tax regime for investment in shipping currently in force; and if he will give the same information in relation to the schemes for 50 per cent., 75 per cent. and 100 per cent. capital allowances, respectively, proposed by the shipping industry.
§ Mr. Norman Lamont[pursuant to his reply, 19 January 1987]: The annual pattern of capital allowances available for take-up on expenditure of £100 million in 1987–88 under the current regime and under alternative regimes of 50 per cent., 75 per cent. and 100 per cent. first year allowances—with 25 per cent. reducing balance writing down allowances thereafter is as follows: