Part of Oral Answers to Questions — National Finance – in the House of Commons at 12:00 am on 11th June 1992.

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Photo of Sir John Cope Sir John Cope , Northavon 12:00 am, 11th June 1992

From 18 June 1979 the highest rate of VAT, which was 12½ per cent. was abolished and the standard rate of VAT was increased from 8 per cent. to 15 percent. On 1 April 1991 that rate was increased to 17½ per cent.