Value Added Tax

HC Deb 23 March 1984 vol 56 c600W

Mr. Tony Banks

asked the Chancellor of the Exchequer what is the cost to the Exchequer of value added tax zero rating on national daily newspapers.

Mr. Hayhoe

[pursuant to his reply, 22 March 1984, c. 532]: It is estimated that the revenue yield from applying VAT at the standard rate of 15 per cent. to national daily newspapers would be about £125 million a year.