§ Mr. Aspinwallasked the Chancellor of the Exchequer what would be the gross revenue loss in a year of a 50 per cent. reduction in the pipe tobacco duty.
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§ Mr. Bruce-GardyneIt is estimated that the gross revenue loss, including the reduction in VAT receipts from pipe tobacco but ignoring any changes in tax receipts from other goods, might be of the order of £40 million a year. for such a large reduction in one of the duties on tobacco products the estimate is subject to considerable uncertainty.