§ Mr. DayTo ask the Chancellor of the Exchequer what would be the annual cost to the Exchequer if the United Kingdom were to adopt an 8 per cent. rate of VAT on the repair, maintenance and improvement of listed buildings.
§ Mr. Heathcoat-AmoryAlterations to listed buildings are currently zero rated. An 8 per cent. rate of VAT would bring in an estimated £30 million. Repairs and maintenance of listed buildings are currently standard rated. Information on expenditure on repairs and maintenance of listed buildings are not readily available. Moving repairs and maintenance to 8 per cent. would involve some loss of revenue.