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Privatisation Proceeds

Part of Oral Answers to Questions — Treasury – in the House of Commons at 12:00 am on 13th March 1997.

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Photo of Mr Toby Jessel Mr Toby Jessel , Twickenham 12:00 am, 13th March 1997

I believe that £l½ billion works out at about £80 a head for every man, woman and child in the UK. If the Labour party were to attempt to stop privatisation, would not it have to increase the rate of VAT by about 1 per cent. or income tax by about 1p in the pound, or a bit of each, to raise the same amount of money?