Vat

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

The hon. Gentleman is drawing attention only to the standard rate of VAT in 1979. Of course, what matters is real disposable incomes, not just the tax burden. As the Institute of Fiscal Studies said, there were real gains in all parts of income distribution between 1979 and 1988.