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Value Added Tax

Volume 887: debated on Monday 3 March 1975

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asked the Chancellor of the Exchequer what was the yield of VAT, in each year since its inception, from repair and maintenance work in the construction industry.

I regret that this information is not available, but it is estimated that the yield from repairs and maintenance at the current 8 per cent. rate of VAT is probably about £100 million a year.