§ Mr. Crawfordasked the Chancellor of the Exchequer what is his estimate of the cost to the Exchequer of the raising of the threshold at which VAT becomes payable from businesses with an annual turnover of £5,000 to those with an annual turnover of £15,000.
§ Mr. Robert SheldonThe VAT registration limit was raised from £5,000 to £7,500 a year from 1st October last. It is estimated that the loss of revenue which would result from raising it to £15,000 a year might be of the order of £25 million in a full year.