§ 81. Mr. Mulleyasked the Secretary to the Treasury the estimated cost of reducing the Purchase Tax on fancy and ornamental articles in group 29 (a) from 100 per cent. to 50 per cent. this year and in a full year.
§ Mr. Boyd-CarpenterI take it the hon. Member has in mind the effect of the provision in the Budget for abolishing the separate charge of tax under Group 29 (a). I estimate the cost, inclusive of the cost of the general reduction in rates by one-quarter on the goods concerned, at £1,200,000 in a full year, and £900,000 this year, very approximately.
§ 82. Mr. Mulleyasked the Secretary to the Treasury what would be the estimated 107W cost of exempting cutlery and spoons and forks in group 13 from Purchase Tax; the cost of reducing the Purchase Tax on silverware in group 27 from 75 per cent. to 50 per cent. and the yield of this tax in the last financial year; the estimated cost of deleting paragraph (b) of group 28, by which all articles wholly or partly made of mother-of-pearl, except buttons and studs, are taxed at the highest rate; and what was the yield under this paragraph in the last financial year.
§ Mr. Boyd-CarpenterThe cost of exempting from tax cutlery and spoons and forks now chargeable under Group 13 would be about £1⅓ million in a full year. Separate particulars are not available for silverware, but I estimate that the cost of the reduction suggested would be a little over £1½ million in a full year if it were to apply generally to goldsmiths' and silversmiths' wares, other articles of precious and semi-precious material, and jewellery. The yield of tax from articles charged under Group 28 (b) is not separately ascertainable, but the effect of deleting this charge would be small.