§ Mrs. Renée Shortasked the Chancellor of the Exchequer what is the latest estimate of the size of the black economy as a percentage of gross domestic product and in money terms: and if he is planning any steps to deal with this problem.
§ Mr. Peter ReesIt follows from the nature of the black economy that evidence is not available on which to base a firm estimate of its size; but figures ranging between 7½ per cent, of gross domestic product—£15,000 billion—and 2 per cent.—£4,000 billion—have recently been put forward as possibilities. The Revenue departments are constantly seeking to improve the effectiveness of their measures to deal with tax evasion.