New Clause.; — (Reduction of Purchase Tax from Five or Ten per Cent. to One per Cent.)

Part of Orders of the Day — Finance Bill – in the House of Commons at 12:00 am on 3rd July 1957.

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(1) The enactments relating to purchase tax shall have effect as if in Part I of the Eighth Schedule to the Finance Act, 1948 (as amended by Treasury orders under section twenty-one of that Act and in particular by the Purchase Tax (Consolidation) Order, 1956), a rate of tax of one per cent. were substituted for any rate of five per cent. or ten per cent.