§ Mr. Colin Shepherdasked the Chancellor of the Exchequer what he now estimates would be the revenue consequences if all registered charities were to be exempted from value added tax.
§ Mr. Peter ReesI assume that by exempting registered charities from value added tax my hon. Friend means 63W relieving them of VAT on their purchases. I refer him to the replies given on 28 January to my hon. Friend the Member for Rugby (Mr. Pawsey)—[Vol. 997, c. 471]—and on 29 January to the hon. and learned Member for Leicester, West (Mr. Janner).—[Vol. 997, c. 1064–65.]
§ Mr. Peter Fraserasked the Chancellor of the Exchequer what is the net increase in revenue from value added tax from a 1p increase in the price of petrol for a 12-month period.
§ Mr. Peter ReesIt is estimated that an increase of 1p a gallon in the price of petrol would increase net VAT receipts by about £5 million in a full year.