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Mr. Hooley
asked the Chancellor of the Exchequer if he will list in the Official Report the gross yield of VAT in each financial year for the period April 1974 to March 1978, and the estimated yield in 1978–79, giving all the figures at constant 1977 prices.
Mr. Robert Sheldon
I assume that by gross yield my hon. Friend means net receipts without deduction of administration expenses. At average 1977 prices the information is:
| … | … | … | £ million | |
| 1974–75 | … | … | … | 4,016 |
| 1875–76 | … | … | … | 4,438 |
| 1976–77 | … | … | … | 4,201 |
| 1977–78 | … | … | … | 4,140 |
| 1978–79 (estimate) | … | … | … | 4,320 |