Value Added Tax

HC Deb 22 May 1995 vol 260 c464W

Mr. Dobson

To ask the Chancellor of the Exchequer if he will estimate the yield from 2.5 percentage points on value added tax in each year since 1991–92, showing separately the estimated yields in respect of the United Kingdom and England. [25409]

Mr. Heathcoat-Amory

The estimated revenue yield from an increase of 2.5 percentage points on the standard rate of VAT—£ million—is as follows:

	UK	England
1991–92	5,200	4,400
1992–93	5,800	4,900
1993–94	6,200	5,200
1994–95	5,900	5,000
1995–96	6,300	5,300
1996–97	6,900	5,900

Mr. Milburn

To ask the Chancellor of the Exchequer what is the estimate for VAT receipts in 1995–96; and what it would be if the 1978–79 VAT regime still applied. [25194]

Mr. Heathcoat-Amory

The estimate for VAT receipts in 1995–96 was published in the revised 1995–96 "Financial Statement and Budget Report". Any attempt to estimate under the 1978–79 VAT regime would require the revisiting not only of the legislation as it then stood, but the reinterpretation of many changes in practice since that time. I do not think this would be a meaningful exercise.