Mini-budget bonus for c.v. industry
If you've noticed an error in this article please click here to report it so we can fix it.
The commercial vehicle industry gains a benefit from Mr Barber's "mini-Budget", announced on Monday. Being classified as plant and machinery in service industries, lorries and buses qualify for the uprating of first-year tax allowance on capital expenditure to 80 per cent from the existing 60 per cent, for two years until August 1973.
Ford told CM it estimated that as results of these measures both heavy and mediumweiqht vehicles sales would reach some 3000 units in each category before the end of the year. raising the 1970 total of 65,000 to 68,000 for 1971 and to 75,000 in 1972. In the mediumweight, 12---15cwt sector, Ford calculations foresaw a rise from last year's total of 102,000 to 105,000, reaching 110,000 next year.