§ Mr. SedgemoreTo ask the Chancellor of the Exchequer what he estimates will be the cost to the Exchequer of tax subsidies on company cars in 1988–89; and what estimate he has made for the next five years.
§ Mr. Norman Lamont[holding answer 10 February 1989]: I assume that the hon. Member is referring to the fact that the company car scales do not fully reflect the value to an employee of having the private use of a company car. It is not possible to estimate the precise extent of the undervaluation. I refer the hon. Member to the reply that I gave to my hon. Friend the Member for Dover (Mr. Shaw) on 8 February 1989 at column 553.