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Exchange Gains And Losses

Volume 227: debated on Monday 28 June 1993

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To ask the Chancellor of the Exchequer if he will estimate the direct effect on revenue in the years 1993–94, 1994–95 and 1995–96 of the introduction of the clauses in chapter II part II of the Finance (No. 2) Bill had they come into effect from 6 April.

[holding answer 25 June 1993]: The Exchequer effects would be highly uncertain and would depend on movements in exchange rates and the location and volume of borrowing.