§ Mr. Quentin Davies
To ask the Chancellor of the Exchequer what representations he has received about the value added tax charge on the self-supply of new construction introduced by amendments to schedule 3 of the Finance Bill; and if he will make a statement.
§ Mr. Lilley
I have received a number of written representations and met representatives of universities, independent schools and banks. In the light of these representations, I have decided to table further amendments for the Report stage of the Finance Bill which will tax the exempt use of new buildings on the basis of the historic cost of land plus the cost of construction.