Car Tax (Hansard, 4 March 1993)

HC Deb 04 March 1993 vol 220 c243W 243W

§ Mr. Flynn
To ask the Chancellor of the Exchequer what is his latest estimate of the total annual amount lost in taxation by the changes in car taxation announced in his autumn statement.

§ Sir John Cope
As a result of the abolition of car tax announced in the autumn statement it is estimated that there will be a total loss of revenue, including consequential VAT, of £750 million in 1993–94. My right hon. Friend the Chancellor of the Exchequer announced at the time that the costs would be recouped in the next Budget through other taxes on motoring.