§ 70. Mr. BrazierTo ask the Chancellor of the Exchequer what is his latest available estimate of the fiscal60W advantages available to shipowners in the short sea trades in (a) West Germany, (b) the Netherlands and (c) the United Kingdom.
§ Mr. Norman LamontI am advised that in the Federal Republic of Germany shipping companies can benefit from delayed taxation of profits carried forward from the sale of a vessel. Similar arrangements apply in the Netherlands. These are generalised provisions not specific to shipping.
United Kingdom shipowners benefit from relatively low rates of United Kingdom taxation and generous writing down allowances. In addition investment in shipping attracts favourable treatment in the timing of depreciation allowances and in the business expansion scheme.