§ Mr. A. Edwardsasked the Chancellor of the Exchequer whether he can estimate the cost to the Treasury of removing all Import Duties, having regard to the saving in labour outside and within the Departments?
§ Sir K. WoodOn the basis of last month's Budget Estimates, the loss of revenue that would be entailed by the removal of all Customs duties, and the990W consequential removal of the corresponding Excise duties, would be approximately £483,000,000 in a full year. It is not possible to estimate the saving in labour that might result from these changes, but it would obviously be inappreciable in comparison with the loss of revenue.