§ Mr. Grahamasked the Chancellor of the Exchequer whether, in order to reduce the administrative cost of VAT to registered persons and Her Majesty's Customs and Excise equally, he will consider authority returns to be made every four months instead of quarterly.
§ Dr. GilbertI have noted my hon. Friend's suggestion, but the three-months period—which was also the standard accounting and payment period for purchase tax—was adopted for VAT after careful consideration of revenue requirements and after discussion with many trading and professional interests.