§ Mr. WaldenTo ask the Chancellor of the Exchequer what estimate he has made of the revenue from the extension of value added tax to(a) newspapers, (b) children's shoes and (c) other exempt items. [19323]
§ Mr. Heathcoat-AmoryThe tax ready reckoner and tax reliefs, published by Her Majesty's Treasury in July 1995, shows that the estimated cost of not applying standard rate VAT to certain groups of expenditure is as follows:
£ million 1995–96 (a) Books, newspapers and magazines 1,200 (b) Children's clothing and footwear 750 (c) Other zero and reduced rate items 15,700 Exempt items 5,750 These figures make no allowance for changes in consumer behaviour.