HC Deb 05 December 1975 vol 901 cc473-4W
Mr. Faulds

asked the Chancellor of the Exchequer whether he will now zero rate for value added tax purposes the acquisitions of works of art by the national institutions and local authorities, bearing in mind that this tax has an export incentive effect.

Mr. Robert Sheldon

I have noted my hon. Friend's suggestion and I will be giving it consideration.

Sir T. Kitson

asked the Chancellor of the Exchequer if he will set out the yield in VAT raised from the sale of blood stock since its inception; and what are the estimated administrative costs of collection.

Mr. Robert Sheldon

I regret this information is not available. In the nature of VAT it is not possible to attribute costs of collection to transactions in particular goods and services, but the average cost of collecting VAT in 1974–75 was about 2p per £ of revenue.