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Mr. John Morris
To ask the Chancellor of the Exchequer (1) what is the estimated annual cost to industry in Scotland of applying value added tax to water supply from 1 July;(2) what is the estimated annual cost to industry of applying value added tax to water supply from 1 July;(3) what is the estimated annual cost to industry in Wales of applying value added tax to water supply from 1 July.
Mr. Major
Negligible. VAT to be charged on water supplies to industry after 1 July will, in virtually all cases, be reclaimable as input tax by those affected.