HC Deb 26 March 1984 vol 57 c53W
Mr. Gould

asked the Chancellor of the Exchequer what is the latest European Economic Community proposal for an increase in the value added tax element of the own resources contribution; and what this would mean in cash terms for the United Kingdom in the current year and in 1985.

Mr. Ian Stewart

At the European Council on 19–20 March, the presidency proposed that the rate should be increased to 1.4 per cent. with effect from 1986, with the prospect of a further increase to 1.6 per cent. two years later. This proposal was not agreed. On the basis of estimates of the United Kingdom's 1984 VAT base, each 0.1 percentage point represents £170 million. We have not prepared estimates for 1985.