Value Added Tax (Hansard, 10 April 1975)

HC Deb 10 April 1975 vol 889 c474W 474W

§ Mr. Knox
asked the Chancellor of the Exchequer what increase in revenue would result from an increase in the rate of VAT by 1 per cent.

§ Dr. Gilbert
About £275 million at 1974–75 rates of expenditure and prices.

§ Mr. Knox
asked the Chancellor of the Exchequer what would be the effect on the retail price index of an increase in VAT of 1 per cent.

§ Dr. Gilbert
An increase of about½ per cent.