HC Deb 14 November 1988 vol 140 c520W
Mr. Ralph Howell

To ask the Chancellor of the Exchequer if he will publish a table showing, at current prices and for each of the years 1970, 1979, 1984 and 1988, the total revenue or total estimated revenue from value added tax.

Mr. Lilley

The information is as follows:

Year Revenue from Value-added Tax £ billion
1970 1—
1979 26.4
1984 17.1
1988 327.3

Notes: 1Value-added tax was introduced in 1973.

2 The standard and higher rates of VAT were raised to 15 per cent. in June 1979.

3 Estimate for financial year 1988–89.