§ Mr. Ottaway
asked the Chancellor of the Exchequer what estimate he has of the cost of restoring capital allowances to owners of British-registered vessels and vessels built in the United Kingdom.
§ Mr. Brooke
I assume my Hon. Friend has in mind the restoration of 100 per cent. first year allowances in place of the present system of writing down allowances. The additional direct revenue cost of such a change for capital expenditure from 1986 onwards on British-registered vessels, including those built in the United Kingdom, could be some £100 million in the first full year declining to about £50 million a year by the end of the decade.