VAT (Fuel) (Hansard, 1 July 1997)

HC Deb 01 July 1997 vol 297 c105W 105W

§ Mr. Streeter
To ask the Chancellor of the Exchequer if he will estimate the VAT income which would accrue from VAT on fuel at(a) 5 per cent., (b) 7½ per cent., (c) 10 per cent. and (d) 12½ per cent., and the cost of the subsidy to retirement pensioners and other vulnerable groups at those levels. [3510]

§ Dawn Primarolo
The estimated full-year cost, in 1997–98, of reducing VAT on domestic fuel and power from 8 per cent. to 5 per cent. is around £450 million: estimates for the other options can be approximated pro rata.