VAT (Domestic Fuel) (Hansard, 8 February 1994)

HC Deb 08 February 1994 vol 237 c120W 120W

§ Mr. Dafis
To ask the Chancellor of the Exchequer what will be the fiscal return to the Exchequer during 1994–95 of the extension of VAT to domestic fuel.

§ Sir John Cope
The extension of VAT to domestic fuel and power is estimated to raise £950 million in 1994–95. The effect on the public sector borrowing requirement will be offset in part by increases in Government spending, announced in the last Budget, which are designed to provide help for pensioners and low income households in meeting increased fuel bills.