§ Mr. Newtonasked the Chancellor of the Exchequer what estimate he has made of any tax payments which may be due from industrial and commercial ratepayers in respect of the refunds proposed in the Water Charges Bill.
§ Mr. Denzil DaviesI regret that the information on which a reliable estimate could be based is not available. But since the refunds will be largely financed by additional rates levied, which will be deductable for tax purposes, it is reasonable to expect that the net impact on tax payments will be small.