Bigger tax allowances
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DEPRECIATION allowances on vehicles are about to be permitted to take account of inflationary effects on vehicle prices, Treasury Under-Secretary Mr A. M. Bailey told the conference.
In a paper which failed to generate much enthusiasm among the delegates Mr Bailey said that he realised that the financial position of the industry as a whole has been causing some concern.
Mr Bailey urged operators to go to the banks and hire purchase companies to get the finance that they need for their replacement vehicles.
But summing up, RHA vicechairman John Silbermann told Mr Bailey that the industry needs to have the tax relief on replacement vehicles before they are bought.
"I am not quite sure our masters in Whitehall realise how desperate the situation is," said Mr Silbermann. -The problem for Great Britain Ltd is to have a viable transport industry — if it stops, then we starve.
"Drivers won't drive old motors and the public need new vehicles that are safer an better — we are inviting ce. foreign competitors to come an do our work.
-Our own home demand fc vehicles has not been stimulate so the industry must suffer; w can't kid outselves that we ca make £5,000 and buy a nel, vehicle. We must make a 50 pe cent a year profit."