§ Mr. Denzil Davies
To ask the Chancellor of the Exchequer what is his estimate of the total official revenue that will accrue to the Exchequer in a full year of the imposition of VAT at the rate of 5 per cent. on(a) domestic fuel and power and (b) categories one, three, six, seven, eight, 10, 11, 12 and 13 contained in annex H of directive 92/77/EEC.
§ Sir John Cope
Estimates of the effect on VAT revenue that would occur in a full year from a 5 per cent. rate are as follows:
£ million (a) Domestic fuel and power—yield 740 (b) Annex H selected items—cost -450
These estimates are for 1992–93 and, unlike those published in the "Financial Statement and Budget Report", make no allowance for behavioural change.