§ Mr. W. Clark
asked the Chancellor of the Exchequer what estimate he has made of the cost to the Exchequer it legislation were introduced for the purpose of extending the industrial building allowance to all buildings used exclusively for the purpose of a trade, profession or vocation.
§ Mr. du Cann
About £45 million in a full year assuming that annual allowances of 2 per cent. would be given for the residue of a 50 year life on all expenditure incurred less than 50 years ago and that the investment and initial allowances for expenditure on new buildings would be 15 per cent. and 5 per cent. respectively (as for new industrial buildings after 5th November, 1962). The cost would increase over the years.