§ Mrs. BeckettTo ask the Chancellor of the Exchequer how much the increase in first-year capital allowances for investment in plant and machinery which was announced in the autumn statement of 1992 to cover the period 1 November 1992 to the end of October 1993 cost in 1992–93; and how much it has cost so far in 1993–94.
§ Mr. Dorrell[holding answer 23 November 1993]: Available estimates of the direct revenue effects of enhanced capital allowances announced in the 1992 autumn statement are as follows:
£ million 1992–93 1993–94 1994–95 1995–96 (yield +ve/cost -ve) nil -200 -700 +50 The effects include enhanced allowances for industrial and agricultural buildings but the majority is accounted for by allowances for plant and machinery. The estimates are provisional. Information is not yet available from tax assessments for the relevant period.