Vat

HM Treasury written question – answered on 4th December 2015.

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Photo of Paul Flynn Paul Flynn Labour, Newport West

To ask Mr Chancellor of the Exchequer, what his policy is on the hypothecation of revenues raised from VAT on specific products for a specific purpose.

Photo of David Gauke David Gauke The Financial Secretary to the Treasury

The Government’s spending priorities are not, in general, determined by the way in which the money is raised. All revenue received, in combination with the amount borrowed or repaid by the Government, contributes to the amount that the Government can spend in total. However, we will continue to look at each case on its merits.

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