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Treasury written question – answered on 24th January 2011.

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Photo of Douglas Alexander Douglas Alexander Shadow Foreign Secretary

To ask the Chancellor of the Exchequer what estimate he has made of the change to the average net income of retired households in each income decile attributable to the proposed increase in the rate of value added tax in (a) 2010-11, (b) 2011-12, (c) 2012-13, (d) 2013-14 and (e) 2014-15.

Photo of David Gauke David Gauke The Exchequer Secretary

Value added tax is an indirect tax. Although prices on certain goods and services will increase as a result of the rate increase, incomes will be unaffected.

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