Raymond Birch Attacks 'Investment Disincentive Scheme'
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THE Chancellor's investment incentive scheme will reduce, not increase incentive, warned Mr. Raymond Birch, chairman of the Yorkshire Woollen District Transport Co. Ltd., when speaking at a long-service presentation dinner in Dewsbury last week.
Under this so-called incentive scheme, he said, certain tax allowances which Yorkshire Woollen, together with Hebble Motor Services Ltd. and County Motors (Lepton) Ltd. had received for many years would be withdrawn. This would cost the companies at least £25,000 a year in addition to the £200,000 a year for fuel tax and the heavier tax burden already imposed by the 1965 Finance Act.
Mr. Birch described the Government's scheme as an "investment disincentive scheme". He could only hope that when the next Budget appeared these particular proposals would have been so altered as to help the bus industry instead of hindering it.