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Windfall Tax (Hydwr)

Volume 300: debated on Wednesday 5 November 1997

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To ask the Secretary of State for Wales what assessment he has made regarding the effect on ability to reinvest in infrastructure of Hydwr, formerly Welsh Water and Electricity, of the imposition of the windfall tax in the Budget. [12402]

My right hon. Friend the Chancellor of the Exchequer has made it clear that the Government does not expect the windfall tax to have any adverse impact on investment.The company has also stated publicly that it remains committed to its current programme of discretionary capital expenditure.