Clause 66 — VAT: refunds to certain charities

Part of Bill Presented – in the House of Commons at 2:40 pm on 25th March 2015.

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Photo of Dawn Primarolo Dawn Primarolo Deputy Speaker (Second Deputy Chairman of Ways and Means) 2:40 pm, 25th March 2015

With this it will be convenient to discuss the following:

Clause 67 stand part.

New clause 1—Report on impact of value added tax

“(1) The Chancellor of the Exchequer shall, within three months of the passing of this Act, publish a report on the impact of the increase in the standard rate of VAT which took effect from 4 January 2011.

(2) The report must estimate the impact of the increase in the standard rate of value added tax on—

(a) living standards;

(b) small businesses;

(c) the fairness of the taxation system; and

(d) economic growth.”.