Charge of Income Tax for 1987–88

Part of Orders of the Day — Finance Bill – in the House of Commons at 6:45 pm on 29 April 1987.

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Photo of Mr John MacGregor Mr John MacGregor The Chief Secretary to the Treasury 6:45, 29 April 1987

The terms of reference are known. They are to examine the detailed relationships between VAT yield and consumer expenditure. The purpose is to try to improve the understanding of the relationships between expenditure and VAT and to improve forecasting. It has nothing whatever to do with the details of any policy on VAT. The results have not yet been reached and no action will follow from them.