§ Mr. Cockcroftasked the Chancellor of the Exchequer what are the latest available figures for turnover in each of the main categories of goods and services currently exempted or zero rated for VAT; and if he will estimate the tax yield in each case if VAT were payable at the standard rate.
§ Mr. Robert SheldonThe turnover information asked for is not available but 393W it is estimated that about 10 per cent. of consumers' expenditure is on goods and services exempt from VAT and 30 per cent. zero-rated. It is further estimated that the yield in a full year from taxing at the standard rate the main categories of zero-rated supplies would be approximately:
Category Yield (£ million) Food 900 Fuel 250 Transport 150 Books, newspapers and magazines 100 Children's clothing and footwear 50 There are technical difficulties in taxing the supplies at present exempt and it is not possible to estimate the potential yield.