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Olympic Games 2012: VAT

Volume 485: debated on Monday 15 December 2008

To ask the Minister for the Olympics what assessment she has made of the impact of introducing a lower rate of value added tax on the overall costs of the London 2012 Olympic Games. (241660)

The Olympic Delivery Authority expects to save £25 million as a result of the temporary reduction of the standard rate of VAT to 15 per cent.