Treasury written question – answered on 23 February 2009.

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Photo of Stephen Byers Stephen Byers Labour, North Tyneside

To ask the Chancellor of the Exchequer what estimate he has made of the cost to the Exchequer in tax forgone of the reduction in the rate of value added tax to 15 per cent. in the period from 1 April 2009 to 1 January 2010.

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

The estimated cost of the temporary reduction in the standard rate of VAT was published in Table B5 of the 2008 pre-Budget report. The value for 2009-10 relates to the specified period.

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