§ 95. Sir G. de Freitasasked the Chancellor of the Exchequer whether he will introduce a turnover tax on the added value system to take effect by 1970, in view of the incentive it would provide for exporters and of the fact that such a system will prevail in the Common Market by 1st January, 1970.
§ Mr. CallaghanThe implications of the recent E.E.C. announcement on added value tax are being studied, although I do not think it has been established that the introduction of such a tax would provide an incentive for exporters.