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asked the Chancellor of the Exchequer if he will estimate the loss of income to the Treasury arising from exemption from development land tax and exemption from tax on construction costs of the scheme for 10 million sq ft of commercial floor space in the Isle of Dogs enterprise zone currently under consideration by the London Docklands Development Corporation.
No such estimate is possible. Development land tax has been abolished, while the value of the initial allowance for tax purposes of 100 per cent. of the capital costs of constructing industrial and commercial buildings within an enterprise zone will depend on a number of factors, including the individual circumstances of those persons entitled to the relief.