§ Mr. Shersbyasked the Chancellor of the Exchequer what would be the net effect on public funds of reducing 25 per cent. VAT to 10 per cent. and of increasing 8 per cent. VAT to 10 per cent.
§ Mr. Robert SheldonThe revenue would increase by about £100 million in a full year.
§ Mrs. Winifred Ewingasked the Chancellor of the Exchequer what are the relevant factors which he takes into account in selecting where companies and individuals will be selected for scrutiny by VAT inspectors.
§ Mr. Robert SheldonVisits are normally made to the premises where a trader conducts his day-to-day business, but special arrangements are sometimes necessary—for example, in cases of traders with multiple retail outlets.
§ Mr. Fauldsasked the Chancellor of the Exchequer (1) whether he will zero-rate for value added tax purposes public museum and gallery acquisitions;
(2) whether he will zero-rate for value added tax purposes all works of art both ancient and modern bearing in mind the fiscal incentive for dealers to export them;
(3) whether he will zero-rate for value added tax purposes theatre and concert tickets;
(4) whether he will zero-rate for value added tax purposes the work of living painters, sculptors, writers and musicians.
§ Mr. Robert SheldonI have noted my hon. Friend's suggestion.
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§ Mr. Onslowasked the Chancellor of the Exchequer what representations he has received about the 25 per cent. rate of VAT applied to accessories for powered garden machinery; and when he expects to complete his consultations with the trade associations on this subject.
§ Mr. Denzil DaviesA letter has been received from the hon. Member. The consultations to which he refers should be completed soon, and I will be writing to him shortly.