Vat
Treasury
Gregory Campbell (East Londonderry, DUP)
To ask the Chancellor of the Exchequer if he will make an assessment of the effect on (a) the economy as a whole and (b) levels of consumer spending of reducing the rate of value added tax to 17.5 per cent.
David Gauke (Exchequer Secretary, HM Treasury; South West Hertfordshire, Conservative)
holding answer
Sustainable public finances will support the economy in the medium-term.
Decisive action taken by the Government in the spending review and June Budget, including the increase in VAT, will put the public finances and spending on a sustainable footing.