TAX CHANGES AND MACHINERY INVESTMENT
研究了近期税收变化对机械投资盈利性和可行性的影响，以及替代劳动的激励，发现资本补贴减少和税收等级使投资更不利，长期利率和通胀下降会降低盈利性但可能改善可行性。
The effects of recent tax changes on the profitability and feasibility of machinery investment and on the incentive for the substitution of labour by machinery are studied. Using two examples, variations in tax, interest and inflation rates are also evaluated, as is the effect of the consideration of tax bands. The results indicate that not only has the change in capital allowances made machinery investment less favourable, but so also does the use of tax bands, especially for more expensive items. If interest and inflation rates decline in the longer term the profitability of machinery investment will deteriorate, although feasibility may improve.