§ Sir David Price
asked the Chancellor of the Exchequer what would be the cost to the Exchequer of changing the fiscal year to the calendar year.
§ Mr. Brittan
It is not possible to quantify the costs of the Exchequer which would be associated with changing the fiscal to the calendar year. Apart from transitional administrative costs, there would be continuing revenue costs, as explained in the memorandum submitted by Her Majesty's Treasury to the Procedure (Supply) Committee on 26 June 1981, which assessed the advantages and disadvantages for the Government—and for traders and taxpayers—which would be involved in changing the fiscal year.