§ Mr. CurryTo ask the Chancellor of the Exchequer what would be the impact on tax revenue in a full year of levying a 5 per cent. rate of VAT both on house refurbishment and repair and on construction on previously undeveloped land. [105145]
§ Dawn PrimaroloThe full year cost in 2000–01 of levying a 5 per cent. rate of VAT on both house refurbishment and repair and on construction on previously undeveloped land would be approximately £670 million, assuming no consequential change in pre-tax prices.