§ Mr. Greg Knightasked the Chancellor of the Exchequer whether he intends to announce any change in the scope and application of value added tax in respect of works of art purchased or imported from abroad; and if he will make a statement.
§ Mr. BrookeI can assure my hon. Friend that no change is imminent.
§ Mr. Gouldasked the Chancellor of the Exchequer what is the annual value of zero rated transactions in the United Kingdom on those goods and services which are the subject of infraction proceedings before the European Court on the issue of whether or not they should be subjected to value added tax.
§ Mr. Brooke[pursuant to his reply, 1 December 1986, c. 467]: I assume that the hon. Member is interested in expenditure giving rise to payment of VAT by a person or business unable to deduct it as input tax. On this basis annual expenditure on the goods and services in question is estimated to be of the order of £7 billion.