§ Mr. Andrew SmithTo ask the Chancellor of the Exchequer what estimate he has made of the losses to the Exchequer arising from the introduction of the European single market(a) through the increased allowances on importation of EC-produced cigarettes and tobacco products and (b) through increased smuggling of cigarettes and tobacco products.
§ Sir John CopeThe "Financial Statement and Budget Report" published on 10 March 1992 estimated a full-year loss of £250 million from increased cross-border shopping. The bulk of this is expected to concern cigarettes and other tobacco products. It is very difficult to estimate the likely extent of smuggling.