Clause 33. — (Increase of Investmeni Allowances.)

Part of Orders of the Day — Finance Bill – in the House of Commons at 12:00 am on 21st May 1963.

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Photo of Mr Edward Du Cann Mr Edward Du Cann , Taunton 12:00 am, 21st May 1963

The hon. Gentleman says "It would". Has he really looked into this with care to be able to detail the costs which are involved? I do not believe he has. He said nothing about that. The hon. Gentleman suggests that we are quite wrong to give incentives to many industries. He instanced holes in the ground, which would certainly not qualify for investment allowance unless they were for building dry docks, mines or some other useful purpose. He instanced examples of that sort without appreciating not only that those are practical arguments against his suggestions—and he failed to answer them—but that what has been done is patently in the general national interest.

I put it to him that it would surely be extraordinarily difficult to decide between the competing claims that would be made. Cannot he imagine the pressure that would be brought to bear in Parliament and outside for other industries to be included in the list when the announcements were made about what industries were or were not to qualify?