Proceeding contribution from Jeremy Browne (Liberal Democrat) in the House of Commons on Wednesday, 6 May 2009. It occurred during Debate on bill on Finance Bill.
Finance Bill
The hon. Gentleman makes a fair point, to which I hope the Treasury Minister will respond, but there are fiscal implications, even if the delay is a few days. Currently, the cost of the VAT reduction to 15 per cent. is about £1 billion a month, so were we to defer by only three days, as suggested by the hon. Member for Bournemouth, East (Mr. Ellwood), the approximate additional cost would be £100 million. Of course, with new year sales, it might be even higher.
Secondary information
- Type
- Proceeding contribution
- Reference
- 492 c199
- Session
- 2008-09
- Chamber / Committee
- House of Commons chamber
- Subjects
- Children Alcoholic drinks Business Corporation tax Credit Bingo Borrowing Finance Income tax Excise duties Fuels Gaming Government assistance Economic growth Forecasts Personal savings Poverty Pensions Public expenditure Scotland Tax allowances Tax avoidance Taxation VAT Trusts Tax rates and bands Tax evasion North Sea oil Trade competitiveness Marginal tax rates
- Legislation
- Finance Bill 2008-09
- Link
- View this Proceeding contribution on www.publications.parliament.uk
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- 2024-04-21 11:20:55 +0100
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