§ Mr. Geraint Howellsasked the Chancellor of the Exchequer what is the estimated cost of operating the Construction Industry Tax Deduction Scheme for 1977–78.
§ Mr. Denzil Davies,pursuant to his reply [Official Report, 14th December 1976], gave the following information:
The cost will depend on the number of sub-contractors who eventually hold certificates but the present estimate of costs is £2.3 million for 1977–78, the first year of operation. Had there been no change in the deduction scheme, the estimated 1977–78 cost would have been £2.8 million.