§ 30. Mrs. Shirley Williamsasked the Chancellor of the Exchequer if he will initiate studies of turnover tax as a substitute for Great Britain's present system of indirect taxation.
§ Mr. CallaghanMy hon. Friend will be aware of the Report of the Richardson Committee. None the less, I shall keep the issue under review.
§ Mrs. WilliamsMay I ask the Chancellor to look at this urgently, in view of the fact that it is more possible to help exports without falling foul of the General Agreement on Tariffs and Trade under this system than under the one which we at present operate?
§ Mr. CallaghanThere was an argument about how far it helped exporters and I do not think that it was clearly resolved. The Richardson Committee did not reach the conclusion of my hon. Friend; but there are other changes taking place on the Continent in relation to value-added taxes which could be met in some ways by adjustments of our own system. I do not want to pre-judge that issue: that is why I say that we shall keep it under review.