§ Mr. Dykesasked the Chancellor of the Exchequer if he will assess the beneficial effects from lower interest rates which would affect economic activity in London and other large cities.
§ Mr. LawsonNo. It is our intention to reduce interest rates as soon as monetary conditions permit, but to do so prematurely would put at risk the progress that has been made in reducing inflation, and with it the chances of a recovery of economic activity in London and elsewhere.
260Wbusinesses and not with the public and (b) exclusively with the public and not with other value added tax registered businesses.
§ Mr. Peter ReesThere are no reliable figures on which to base an estimate. Possibly, some 300,000 to 400,000 registered businesses trade almost entirely with other registered businesses, though many, if not most, of these could be making some supplies to employees or other private purchasers. It is thought that the number of businesses trading exclusively with the public could be of the order of 250,000.
§ Mr. David Atkinsonasked the Chancellor of the Exchequer what proportion of the total value added tax yield arises out of transactions between value added tax registered traders.
§ Mr. Peter ReesIt is estimated that about 70 per cent. of the total value added tax yield relates to transactions between registered traders.
§ Mr. David Atkinsonasked the Chancellor of the Exchequer if he will list for each of the past eight years (a) the approximate number of traders registered for value added tax purposes; (b) the total amount of value added tax due on imported goods and from bonded warehouses; (c) the total amount of other value added tax due; (d) the total amount of value added tax deductible other than on imported goods and goods from bonded warehouses and (e) the total net tax payable to Her Majesty's Customs and Excise.
§ Mr. Peter ReesThe information is as follows: