Part of Bill Presented – in the House of Commons at 7:00 pm on 13 May 2009.
That is a very important question. The fundamental point is that there has been an inability to count the VAT; it has been assessed, or calculated. The industry advises us that the Treasury has overestimated the historic levels of VAT, but if the Minister would like to clarify that point, I would be delighted to give way to her.