§ Ms PrimaroloTo ask the Chancellor of the Exchequer how much revenue he estimates would be raised by placing a £10 tax on the possession of each credit card.
462W
§ Mr. Heathcoat-Amory[holding answer 24 January 1995]: A £10 tax on the 25 million existing credit cards would yield £250 million on the assumption of no behavioural change.
§ Ms PrimaroloTo ask the Chancellor of the Exchequer what estimates his Department has made as to the effects on credit card usage of the imposition of a £10 tax on credit cards.
§ Mr. Heathcoat-Amory[holding answer 24 January 1995]: No such estimates are available.
Ms Primarolo: To ask the Chancellor of the Exchequer (1) if his Department has considered charge cards and credit cards to be similar for tax purposes;
(2) what differences between credit cards and charge cards have implications for the imposition of a tax on each.
§ Mr. Heathcoat-Amory[holding answer 24 January 1995]: There is no taxation of either charge cards or credit cards.
§ Ms PrimaroloTo ask the Chancellor of the Exchequer if he will issue a consultation paper on the taxing of credit cards in the coming year.
§ Mr. Heathcoat-Amory[holding answer 24 January 1995]: My right hon. and learned Friend has no plans to do so.
§ Ms PrimaroloTo ask the Chancellor of the Exchequer which organisations he has consulted in respect of taxes on credit cards.
§ Mr. Heathcoat-Amory[holding answer 24 January 1995]: None.