VAT: Energy

Treasury written question – answered on 13th October 2008.

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Photo of Graham Brady Graham Brady Conservative, Altrincham and Sale West

To ask the Chancellor of the Exchequer pursuant to the Answer of 29 September 2008, Official Report, column 2308W on VAT: energy, if he will estimate the additional revenue that will be raised from VAT on domestic energy as a result of increases in fuel prices in 2008-09.

Photo of Stephen Timms Stephen Timms Financial Secretary (HM Treasury) (also in the Department for Business, Innovation and Skills)

HM Revenue and Customs does not collect data on VAT relating to individual goods and services.

There are practical difficulties in estimating the revenue impact of price changes in specific sectors, as to obtain a true estimate the effects across the wider economy must also be considered. Consumers will change their behaviour and expenditure patterns as specific prices rise.

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