§ Mr. BellottiTo ask the Chancellor of the Exchequer what assessments he has made of the implications for the bloodstock breeding industry of the changes to the administration of value added tax due to be introduced in January 1993; and if he will make a statement.
§ Mrs. Gillian ShephardThe Government are keenly aware of the problems which the bloodstock industry faces after 1992 due to the very low rates of VAT for bloodstock in France and Ireland. My right hon. Friend the then Paymaster General had discussions with representatives of the industry in November and I shall continue those discussions following a meeting which is to take place between the Horseracing Advisory Council and officials to consider possible solutions to the industry's perceived future difficulties.