§ Mr. HansonTo ask the Chancellor of the Exchequer what is his estimate of the revenue lost to the Exchequer by advance payments of VAT by customers of utility companies now subject to VAT from April.
§ Sir John CopeSome loss through advance payments was anticipated on this, as on other tax adjustments, and was taken into account in the Budget calculations. It is too early to say what the actual effect on revenue will be.