Clause 61 - Expenditure on green technologies: leasing
Finance Bill
11:45 am
Mr Christopher Chope (Christchurch, Conservative)
I beg to move amendment No. 17, in page 40, leave out lines 14 and 15 and insert—
'(5) General exclusion 6 shall not apply to expenditure incurred on or after 17th April 2002.'.
Again, this is a small issue, but it is important nevertheless. Many small and medium-sized enterprises make little or no profit, and so cannot use the capital allowances that are available. Giving those allowances to lessors would make cheaper finance available to small and medium enterprises that do not make big enough profits, as they could then ''sell'' their capital allowances to leasing companies. That would be helpful for small companies seeking such finance. I do not know whether such a provision is also incorporated within the Bill, but if it is not, it should be, which is why I tabled the amendment.