Severn River Crossing

(asked on 11th June 2015) - View Source

Question to the Department for Transport:

To ask the Secretary of State for Transport, what estimate he has made of savings to the public purse from the abolition of the industrial buildings allowance on the Severn Bridges.


Answered by
Andrew Jones Portrait
Andrew Jones
This question was answered on 17th June 2015

Under the terms of the concession, Severn River Crossings Ltd (SRC) are compensated for changes in the tax regime. Under an agreement signed in 2012, the amount that SRC can collect in tolls was increased by £24.7m (July 1989 prices) to reflect the abolition of industrial building allowance on the Severn bridges; this is the additional amount of tax revenue from SRC resulting from this change.

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