Vat: Higher Rate

Part of Orders of the Day — FINANCE (No. 2) BILL – in the House of Commons at 12:00 am on 15 May 1975.

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Photo of John Horam John Horam , Gateshead West 12:00, 15 May 1975

I accept that, too. It may be that there are three kinds of categories—the items which are zero rated, those which are at 8 per cent. and those which are now at 25 per cent.

One of the objects brought out in the debate on the introduction of VAT was that the Labour Party in principle preferred the flexibility and greater equality of a multi-rate tax on purchases to a single-rate VAT. Therefore, I would defend myself on that ground.