§ Mr. Nicholas Bennettasked the Chancellor of the Exchequer whether there are any proposals to alter the rate of value added tax; and if he will make a statement.
§ Mr. BrookeMy right hon. Friend the Chancellor of the Exchequer has no such plans.
§ Mr. Austin Mitchellasked the Chancellor of the Exchequer whether he will publish in the Official Report a table showing the value of trade with the EEC in those manufactured goods and alcoholic beverages, respectively, in 1986 which are the subject of proposals for a harmonised rate of value added tax and revenue duties put forward by the EEC Commission; what is his estimate of the amount of tax which would he chargeable at the United Kingdom rate on imports and exports; and what arrangements would be made to recover input value added tax on imports to ensure that there was no loss of revenue to the Exchequer as a result of imbalance of trade.
§ Mr. BrookeThe full package of the Commission's proposals for tax approximation has not yet been submitted to the Council. Until it has been carefully studied it will not be possible to give the hon. Member a reply.