§ Mr. Michael Morrisasked the Chancellor of the Exchequer what has been the total cost to the Exchequer since inception of running the tax exemption certificate scheme.
§ Mr. RidleyI assume my hon. Friend is referring to the construction industry tax deduction scheme which, in its present form, came into operation in April 1977.
Work to implement the new scheme began in the year 1975–76, and the estimated cost of administering the scheme for the seven years ended 5 April 1982 is £34 million.