§ Mr. Leadbitterasked the Chancellor of the Exchequer how much was collected in VAT in the first two quarters of its operation ; how much of the tax has been passed to the Common Market ; and if he will make a statement on the cost of collection and the present purposes of the tax.
§ Mr. HigginsProvisional net receipts of value added tax in the half-year ended 30th September were £18 million ; no part of this has been or needs to be passed to the European Economic Community. No accurate estimate can be made of the separate costs of collecting value added tax and other Customs and Excise duties. The present purposes of the tax remain those set out in my right hon. Friend's Budget Statement of 1971.