Tax Credits (Hansard, 3 December 2001)

HC Deb 03 December 2001 vol 376 c60W 60W

§ Mr. Blunt
To ask the Chancellor of the Exchequer which tax credits he defines as public expenditure. [19838]

§ Mr. Andrew Smith
The Treasury's calculation of net taxes and social security contributions treats all tax credits as reductions in tax collected since the working families and business tax credits appear as reductions in their tax bills.
The Treasury's calculation of public sector receipts, drawn from ONS's national accounts treats some tax credits as public expenditure—mostly WFTC and DPTC.