§ 23. Mr. Michael McNair-Wilsonasked the Chancellor of the Exchequer what representations he has received asking him to exempt repairs to churches from VAT.
§ Mr. Robert SheldonI have received a number of representations on this subject from hon. Members and Members of the clergy and I have taken note of them.
§ 26. Mr. Trotterasked the Chancellor of the Exchequer what increase would have to be made in the £5,000 exemption limit for VAT in order to restore the limit to the same real value as when VAT was introduced.
§ Mr. Robert SheldonThe exemption level would need to be raised to about £7,000 a year.
§ 28. Rear-Admiral Morgan-Gilesasked the Chancellor of the Exchequer what estimate he has made of the reduction of turnover in the boating and boat-building industry which will arise from his proposed 25 per cent. VAT levy.
§ Mr. Robert SheldonIt is not possible to give separate figures for individual industries; these will depend, among other things, on how consumers adjust their discretionary expenditure. The Budget estimates of the revenue effect of the higher rate VAT have assumed a fall of rather less than 7 per cent. in the turnover of the producers of all the goods covered by the higher rate, other than road fuel.
§ Mr. Cryerasked the Chancellor of the Exchequer whether his Budget proposal concerning the VAT regulator limit requires that the same variation must apply to each of the going rates each time the regulator is used.
§ Mr. Joel BarnettThat would be the effect of the relevant Ways and Means Resolutions which were approved on 21st April. Having further considered the difficulties that have been pointed out by my hon. Friends, however, my right hon. Friend proposes to introduce a further Resolution to permit greater flexibility.