§ Mr. David Priceasked the Chancellor of the Exchequer what would be his estimate of the loss of taxes received in the fiscal year 1978–79 if the tax threshold for VAT was to be raised to £12,500 and £17,500, respectively.
§ Mr. Robert SheldonThe loss of tax in 1978–79 would depend on the date of the change. The full year losses would be about £20 million and £30 million respectively.