Part of Oral Answers to Questions — Treasury – in the House of Commons at 12:00 am on 13 May 1999.
Is my right hon. Friend aware that the reduction in the rates of corporation tax has been widely welcomed, as has the extension of first-year capital allowances to small and medium-sized companies? Is he also aware that any incentives to manufacturing industry are difficult to obtain? One of the few ways of achieving those incentives is through capital allowances, so will he perhaps consider some increase in the capital allowances, particularly for manufacturing industry?