§ Mr. Leeasked the Chancellor of the Exchequer on what date payment of a portion of value added tax will become payable to the Common Market budget funds; and if he will make a statement 192W about the estimated cost of collection of the Common Market element of the tax.
§ Mr. Robert Sheldon:United Kingdom contributions to the EEC budget based on VAT own resources will become payable from 1st January 1979. These contribu tions will not be made out of receipts from VAT collected in the United Kingdom. They will be calculated by reference to a notional harmonised VAT base and will be paid direct to the EEC from the Consolidated Fund. The cost of this work will be minimal.