Schedule 17 - Capital allowances: energy-saving plant and machinery
Finance Bill
5:15 pm
Mr John Burnett (Torridge and West Devon, Liberal Democrat)
This is my first opportunity to welcome you to the Chair, Mr. O'Hara, although I have been fortunate enough to serve under your chairmanship before.
I rise to endorse the points made by the right hon. Member for Fylde (Mr. Jack). I, too, have received representations on the Bill from the Chartered Institute of Taxation and I know from past experience that many purchasers of plant and equipment prefer, for cash-flow reasons, to buy through leasing or hire purchase. The Government are pursuing the laudable aim of encouraging the purchase of energy-saving plant and machinery, but why are they excluding lessors from that? The object of the exercise is to get as much energy-saving plant and equipment into use in businesses and companies throughout the country, so I look forward to hearing a compelling explanation of why lessors are excluded.